FY2024 EPS Estimates for Berkshire Hills Bancorp, Inc. Raised by Seaport Res Ptn (NYSE:BHLB)

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

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

Berkshire Hills Bancorp Stock Performance

BHLB opened at $27.28 on Wednesday. The firm has a market cap of $1.18 billion, a PE ratio of 54.56 and a beta of 0.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $26.52 and a 200-day simple moving average of $23.60. Berkshire Hills Bancorp has a fifty-two week low of $18.31 and a fifty-two week high of $28.51.

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

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.64%. Berkshire Hills Bancorp’s payout ratio is currently 144.00%.

Institutional Trading of Berkshire Hills Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of BHLB. Dimensional Fund Advisors LP increased its position in Berkshire Hills Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company’s stock worth $60,024,000 after buying an additional 36,521 shares during the last quarter. Wellington Management Group LLP increased its position in Berkshire Hills Bancorp by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company’s stock worth $35,422,000 after buying an additional 43,822 shares during the last quarter. LSV Asset Management increased its position in Berkshire Hills Bancorp by 116.2% during the first quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock worth $15,606,000 after buying an additional 365,952 shares during the last quarter. American Century Companies Inc. increased its position in Berkshire Hills Bancorp by 6.5% during the second quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company’s stock worth $14,232,000 after buying an additional 38,327 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Berkshire Hills Bancorp by 60.4% during the second quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock worth $9,636,000 after buying an additional 159,200 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.