Seaport Res Ptn Brokers Increase Earnings Estimates for BHLB

Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) - Seaport Res Ptn raised their FY2024 earnings estimates for shares of Berkshire Hills Bancorp in a report issued on Tuesday, October 29th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the savings and loans company will earn $2.10 per share for the year, up from their prior estimate of $2.09. The consensus estimate for Berkshire Hills Bancorp's current full-year earnings is $2.12 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp's Q4 2024 earnings at $0.48 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.36 EPS.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The firm had revenue of $125.70 million during the quarter, compared to analysts' expectations of $119.61 million. During the same quarter in the prior year, the business earned $0.50 EPS. Berkshire Hills Bancorp's quarterly revenue was up 16.6% compared to the same quarter last year.

BHLB has been the subject of several other research reports. Hovde Group raised their price objective on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Janney Montgomery Scott downgraded Berkshire Hills Bancorp from a "buy" rating to a "neutral" rating and set a $28.00 price target for the company. in a report on Monday, July 22nd. Finally, StockNews.com upgraded Berkshire Hills Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.80.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock traded up $0.14 during mid-day trading on Wednesday, hitting $27.61. The stock had a trading volume of 208,268 shares, compared to its average volume of 254,989. Berkshire Hills Bancorp has a fifty-two week low of $19.38 and a fifty-two week high of $28.51. The firm has a market cap of $1.20 billion, a PE ratio of 56.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01. The company's 50-day simple moving average is $26.95 and its 200-day simple moving average is $24.64.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Berkshire Hills Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company's stock valued at $60,024,000 after acquiring an additional 36,521 shares during the period. LSV Asset Management grew its position in Berkshire Hills Bancorp by 116.2% during the first quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company's stock worth $15,606,000 after buying an additional 365,952 shares in the last quarter. American Century Companies Inc. increased its stake in Berkshire Hills Bancorp by 6.5% during the second quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company's stock valued at $14,232,000 after acquiring an additional 38,327 shares during the period. Renaissance Technologies LLC boosted its stake in Berkshire Hills Bancorp by 60.4% during the second quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company's stock worth $9,636,000 after buying an additional 159,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Berkshire Hills Bancorp in the 2nd quarter valued at $6,330,000. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, September 30th. Berkshire Hills Bancorp's dividend payout ratio is currently 144.00%.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.