Berkshire Hills Bancorp (NYSE:BHLB) Issues Earnings Results, Beats Estimates By $0.14 EPS

Berkshire Hills Bancorp (NYSE:BHLB) posted its earnings results on Tuesday. The savings and loans company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14, Fidelity Earnings reports. Berkshire Hills Bancorp had a negative net margin of 106.72% and a positive return on equity of 4.29%.

Shares of BHLB stock traded down $1.22 on Thursday, reaching $27.09. 15,092 shares of the company were exchanged, compared to its average volume of 471,789. The company has a market cap of $1.39 billion, a P/E ratio of -2.85 and a beta of 1.23. The firm has a 50-day moving average of $27.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.93. Berkshire Hills Bancorp has a 1 year low of $8.55 and a 1 year high of $28.89.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 8th. Shareholders of record on Tuesday, June 29th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 80.00%.

BHLB has been the subject of a number of research reports. TheStreet upgraded shares of Berkshire Hills Bancorp from a “d+” rating to a “c-” rating in a research report on Wednesday, April 28th. Compass Point restated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Berkshire Hills Bancorp in a research report on Thursday, May 6th. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Monday, May 3rd. Finally, Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $25.00 to $27.00 in a research report on Tuesday, May 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $20.80.

In related news, CEO Nitin J. Mhatre bought 1,080 shares of the business’s stock in a transaction dated Friday, June 4th. The stock was acquired at an average price of $27.77 per share, with a total value of $29,991.60. Following the completion of the purchase, the chief executive officer now directly owns 30,080 shares of the company’s stock, valued at $835,321.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rheo A. Brouillard sold 10,574 shares of the business’s stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $26.91, for a total transaction of $284,546.34. Following the sale, the director now directly owns 15,166 shares of the company’s stock, valued at approximately $408,117.06. The disclosure for this sale can be found here. Insiders have bought 30,367 shares of company stock valued at $749,455 in the last three months. Corporate insiders own 0.90% of the company’s stock.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a 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.

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Earnings History for Berkshire Hills Bancorp (NYSE:BHLB)

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