Berkshire Hills Bancorp (BHLB) Set to Announce Earnings on Wednesday

Berkshire Hills Bancorp (NYSE:BHLBGet Rating) is set to release its earnings data before the market opens on Wednesday, April 20th. Analysts expect Berkshire Hills Bancorp to post earnings of $0.41 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Berkshire Hills Bancorp (NYSE:BHLBGet Rating) last announced its quarterly earnings data on Thursday, January 20th. The savings and loans company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Berkshire Hills Bancorp had a net margin of 25.12% and a return on equity of 7.13%. The company had revenue of $90.72 million for the quarter, compared to the consensus estimate of $91.00 million. During the same period in the prior year, the firm posted $0.28 EPS. On average, analysts expect Berkshire Hills Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NYSE:BHLB opened at $27.95 on Monday. Berkshire Hills Bancorp has a 52 week low of $21.00 and a 52 week high of $31.78. The company’s 50 day moving average is $29.64 and its two-hundred day moving average is $28.84. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.34 billion, a PE ratio of 11.55 and a beta of 1.04.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 10th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, February 9th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 19.83%.

A number of analysts recently weighed in on BHLB shares. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, March 28th. StockNews.com began coverage on shares of Berkshire Hills Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.80.

In other news, Director Jeffrey W. Kip purchased 10,000 shares of the stock in a transaction that occurred on Monday, January 31st. The stock was acquired at an average cost of $29.25 per share, with a total value of $292,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nitin J. Mhatre acquired 2,700 shares of the firm’s stock in a transaction on Tuesday, January 25th. The shares were bought at an average cost of $29.48 per share, with a total value of $79,596.00. The disclosure for this purchase can be found here. 0.90% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Berkshire Hills Bancorp by 626.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,077,583 shares of the savings and loans company’s stock worth $30,635,000 after buying an additional 929,200 shares during the last quarter. Norges Bank bought a new stake in Berkshire Hills Bancorp in the 4th quarter valued at about $13,618,000. Morgan Stanley lifted its position in Berkshire Hills Bancorp by 88.0% in the 2nd quarter. Morgan Stanley now owns 250,768 shares of the savings and loans company’s stock valued at $6,874,000 after purchasing an additional 117,406 shares during the last quarter. Sei Investments Co. lifted its position in Berkshire Hills Bancorp by 7.5% in the 4th quarter. Sei Investments Co. now owns 202,804 shares of the savings and loans company’s stock valued at $5,766,000 after purchasing an additional 14,224 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Berkshire Hills Bancorp by 2.0% in the 4th quarter. Legal & General Group Plc now owns 144,923 shares of the savings and loans company’s stock valued at $4,120,000 after purchasing an additional 2,856 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

About Berkshire Hills Bancorp (Get Rating)

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

See Also

Earnings History for Berkshire Hills Bancorp (NYSE:BHLB)

Receive News & Ratings for Berkshire Hills Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.