Seaport Res Ptn Equities Analysts Increase Earnings Estimates for Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Equities research analysts at Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for shares of Berkshire Hills Bancorp in a research report issued on Monday, September 16th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the savings and loans company will post earnings of $2.09 per share for the year, up from their previous forecast of $2.04. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.10 per share.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, July 18th. The savings and loans company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The business had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $108.46 million. During the same quarter last year, the company earned $0.55 EPS.

Several other analysts have also commented on the company. Janney Montgomery Scott lowered Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Monday, July 22nd. Hovde Group boosted their price target on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, StockNews.com raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Berkshire Hills Bancorp presently has an average rating of “Hold” and an average price target of $26.80.

Berkshire Hills Bancorp Trading Up 1.5 %

Shares of Berkshire Hills Bancorp stock opened at $27.24 on Wednesday. The company has a market cap of $1.18 billion, a P/E ratio of 54.48 and a beta of 0.86. Berkshire Hills Bancorp has a fifty-two week low of $18.31 and a fifty-two week high of $28.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day simple moving average of $26.43 and a two-hundred day simple moving average of $23.57.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. LSV Asset Management boosted its holdings in shares of Berkshire Hills Bancorp by 116.2% during the 1st quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock worth $15,606,000 after purchasing an additional 365,952 shares during the last quarter. Norges Bank purchased a new position in Berkshire Hills Bancorp during the fourth quarter worth about $7,963,000. Assenagon Asset Management S.A. acquired a new position in Berkshire Hills Bancorp in the 2nd quarter valued at about $6,330,000. Renaissance Technologies LLC grew its stake in shares of Berkshire Hills Bancorp by 60.4% in the 2nd quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock valued at $9,636,000 after buying an additional 159,200 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Berkshire Hills Bancorp by 126.0% in the 2nd quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock valued at $4,186,000 after buying an additional 102,384 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.