Berkshire Hills Bancorp (NYSE:BHLB) Issues Quarterly Earnings Results

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

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock traded down $0.30 during trading on Friday, reaching $27.00. The company had a trading volume of 250,215 shares, compared to its average volume of 255,575. The firm's 50 day simple moving average is $26.89 and its two-hundred day simple moving average is $24.47. Berkshire Hills Bancorp has a one year low of $18.87 and a one year high of $28.51. 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 has a market capitalization of $1.17 billion, a PE ratio of 54.32 and a beta of 0.86.

Berkshire Hills Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, September 30th. Berkshire Hills Bancorp's dividend payout ratio is 144.00%.

Analyst Ratings Changes

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

Berkshire Hills Bancorp Company Profile

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.