Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Announces $0.18 Quarterly Dividend

Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) announced a quarterly dividend on Friday, November 1st, RTT News reports. Investors of record on Thursday, November 14th will be given a dividend of 0.18 per share by the savings and loans company on Wednesday, November 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.64%.

Berkshire Hills Bancorp has a dividend payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berkshire Hills Bancorp to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 29.8%.

Berkshire Hills Bancorp Trading Up 0.3 %

Berkshire Hills Bancorp stock traded up $0.09 during trading hours on Friday, reaching $27.32. The stock had a trading volume of 228,958 shares, compared to its average volume of 254,555. The company has a fifty day simple moving average of $26.99 and a 200-day simple moving average of $24.68. Berkshire Hills Bancorp has a 52 week low of $20.02 and a 52 week high of $28.51. The stock has a market cap of $1.17 billion, a PE ratio of 28.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.02 and a quick ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.68% and a net margin of 5.86%. The firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. During the same period last year, the company earned $0.50 EPS. The business's quarterly revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Berkshire Hills Bancorp will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.