Zacks: Analysts Anticipate Berkshire Hills Bancorp, Inc. (BHLB) to Post $0.70 EPS

Equities analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to report earnings of $0.70 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Berkshire Hills Bancorp’s earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.70. Berkshire Hills Bancorp reported earnings of $0.59 per share during the same quarter last year, which would indicate a positive year over year growth rate of 18.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 18th.

According to Zacks, analysts expect that Berkshire Hills Bancorp will report full-year earnings of $2.79 per share for the current financial year, with EPS estimates ranging from $2.75 to $2.84. For the next year, analysts anticipate that the company will report earnings of $3.03 per share, with EPS estimates ranging from $2.95 to $3.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Wednesday, July 18th. The savings and loans company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $121.15 million during the quarter, compared to analyst estimates of $122.23 million. Berkshire Hills Bancorp had a net margin of 14.79% and a return on equity of 8.13%.



Several research firms have issued reports on BHLB. Piper Jaffray Companies lowered shares of Berkshire Hills Bancorp from an “overweight” rating to a “neutral” rating in a report on Friday, June 8th. Compass Point lowered shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 price target for the company. in a report on Tuesday, June 12th. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Sandler O’Neill restated a “buy” rating and set a $47.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, July 20th. Finally, Keefe, Bruyette & Woods lowered shares of Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price target for the company. in a report on Sunday, July 22nd. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Berkshire Hills Bancorp has a consensus rating of “Hold” and an average target price of $41.07.

NYSE BHLB remained flat at $$41.25 during trading hours on Friday. 112,359 shares of the company were exchanged, compared to its average volume of 231,130. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.26. Berkshire Hills Bancorp has a 1-year low of $32.85 and a 1-year high of $44.25. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 18.01 and a beta of 0.74.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $0.88 annualized dividend and a yield of 2.13%. Berkshire Hills Bancorp’s payout ratio is 38.43%.

In other Berkshire Hills Bancorp news, EVP Michael D. Carroll sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $42.53, for a total transaction of $63,795.00. Following the completion of the transaction, the executive vice president now owns 7,432 shares in the company, valued at approximately $316,082.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Aperio Group LLC grew its position in Berkshire Hills Bancorp by 7.4% in the 2nd quarter. Aperio Group LLC now owns 19,705 shares of the savings and loans company’s stock valued at $800,000 after purchasing an additional 1,354 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Berkshire Hills Bancorp by 14.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 10,816 shares of the savings and loans company’s stock worth $439,000 after purchasing an additional 1,400 shares during the period. FDx Advisors Inc. raised its stake in Berkshire Hills Bancorp by 23.1% in the 2nd quarter. FDx Advisors Inc. now owns 7,644 shares of the savings and loans company’s stock valued at $310,000 after acquiring an additional 1,435 shares during the period. Strs Ohio raised its stake in Berkshire Hills Bancorp by 9.7% in the 2nd quarter. Strs Ohio now owns 16,900 shares of the savings and loans company’s stock valued at $686,000 after acquiring an additional 1,500 shares during the period. Finally, Pitcairn Co. raised its stake in Berkshire Hills Bancorp by 33.8% in the 1st quarter. Pitcairn Co. now owns 7,814 shares of the savings and loans company’s stock valued at $297,000 after acquiring an additional 1,976 shares during the period. 69.76% of the stock is owned by institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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