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

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) declared a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Investors of record on Monday, September 30th will be given a dividend of 0.18 per share by the savings and loans company on Thursday, October 10th. This represents a $0.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, September 30th.

Berkshire Hills Bancorp has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berkshire Hills Bancorp to earn $2.38 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 30.3%.

Berkshire Hills Bancorp Stock Up 0.3 %

Shares of NYSE:BHLB opened at $26.73 on Friday. The firm has a fifty day moving average price of $26.68 and a two-hundred day moving average price of $23.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01. Berkshire Hills Bancorp has a one year low of $18.31 and a one year high of $28.51. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 53.46 and a beta of 0.86.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $108.46 million. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. During the same quarter last year, the company posted $0.55 EPS. Analysts anticipate that Berkshire Hills Bancorp will post 2.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BHLB has been the topic of a number of analyst reports. Janney Montgomery Scott cut shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Monday, July 22nd. StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Hovde Group boosted 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 report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.