Berkshire Hills Bancorp (BHLB) Scheduled to Post Quarterly Earnings on Thursday

Posted by Defense World Staff on Apr 13th, 2023

Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) is set to issue its quarterly earnings data before the market opens on Thursday, April 20th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. Berkshire Hills Bancorp had a net margin of 20.28% and a return on equity of 10.04%. The firm had revenue of $137.04 million during the quarter, compared to analysts’ expectations of $111.35 million. During the same period in the prior year, the company posted $0.42 EPS. On average, analysts expect Berkshire Hills Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Berkshire Hills Bancorp Trading Down 1.1 %

Shares of NYSE BHLB opened at $23.44 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 0.87. Berkshire Hills Bancorp has a 52-week low of $23.04 and a 52-week high of $31.63. The firm has a 50 day moving average price of $27.31 and a two-hundred day moving average price of $28.71. The stock has a market cap of $1.04 billion, a P/E ratio of 11.55 and a beta of 0.99.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Investors of record on Thursday, February 16th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Wednesday, February 15th. Berkshire Hills Bancorp’s dividend payout ratio is presently 35.47%.

Wall Street Analyst Weigh In

BHLB has been the subject of a number of analyst reports. StockNews.com downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 4th. Keefe, Bruyette & Woods lowered their target price on shares of Berkshire Hills Bancorp from $32.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.80.

Insider Buying and Selling at Berkshire Hills Bancorp

In related news, CEO Nitin J. Mhatre purchased 3,900 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was purchased at an average cost of $24.62 per share, with a total value of $96,018.00. Following the completion of the purchase, the chief executive officer now owns 53,430 shares in the company, valued at approximately $1,315,446.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stake in Berkshire Hills Bancorp in the first quarter valued at $35,000. Point72 Middle East FZE acquired a new position in shares of Berkshire Hills Bancorp during the fourth quarter valued at about $119,000. Federated Hermes Inc. grew its holdings in shares of Berkshire Hills Bancorp by 974.7% during the first quarter. Federated Hermes Inc. now owns 4,836 shares of the savings and loans company’s stock valued at $140,000 after buying an additional 4,386 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Berkshire Hills Bancorp by 46.3% during the first quarter. Captrust Financial Advisors now owns 5,291 shares of the savings and loans company’s stock valued at $153,000 after buying an additional 1,674 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Berkshire Hills Bancorp during the first quarter valued at about $209,000. 80.73% of the stock is owned by institutional investors.

About Berkshire Hills Bancorp

(Get Rating)

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies.