Berkshire Hills Bancorp, Inc. (BHLB) To Go Ex-Dividend on June 20th

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) declared a quarterly dividend on Friday, June 7th, Zacks reports. Stockholders of record on Thursday, June 20th will be paid a dividend of 0.18 per share by the savings and loans company on Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, June 20th.

Berkshire Hills Bancorp has a dividend payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berkshire Hills Bancorp to earn $2.39 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 30.1%.

Berkshire Hills Bancorp Price Performance

Shares of BHLB opened at $21.22 on Tuesday. The company has a market capitalization of $918.61 million, a price-to-earnings ratio of 42.44 and a beta of 0.89. Berkshire Hills Bancorp has a fifty-two week low of $18.31 and a fifty-two week high of $25.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $21.98 and its 200-day moving average is $22.73.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. The firm had revenue of $169.32 million for the quarter, compared to the consensus estimate of $107.89 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Equities research analysts expect that Berkshire Hills Bancorp will post 2.06 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

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.