Berkshire Hills Bancorp (NYSE:BHLB) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Berkshire Hills Bancorp (NYSE:BHLBGet Free Report) announced its earnings results on Thursday. The savings and loans company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06, Zacks reports. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%.

Berkshire Hills Bancorp Stock Performance

NYSE:BHLB traded up $0.35 during mid-day trading on Thursday, hitting $28.92. The stock had a trading volume of 30,890 shares, compared to its average volume of 383,354. Berkshire Hills Bancorp has a twelve month low of $20.50 and a twelve month high of $32.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 30.39 and a beta of 0.89. The company’s 50 day simple moving average is $29.13 and its 200 day simple moving average is $27.91.

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.49%. Berkshire Hills Bancorp’s dividend payout ratio is presently 75.79%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BHLB. Royal Bank of Canada reduced their price objective on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Keefe, Bruyette & Woods lifted their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research note on Tuesday, December 24th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has an average rating of “Moderate Buy” and an average target price of $31.13.

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About Berkshire Hills Bancorp

(Get Free Report)

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.

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Earnings History for Berkshire Hills Bancorp (NYSE:BHLB)

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