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

Berkshire Hills Bancorp (NYSE:BHLB) posted its quarterly earnings results on Thursday. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Price Performance

Shares of NYSE:BHLB opened at $29.15 on Friday. The stock has a market capitalization of $1.25 billion, a P/E ratio of 30.68 and a beta of 0.89. The business has a 50-day moving average of $29.10 and a two-hundred day moving average of $27.92. Berkshire Hills Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98.

Analyst Ratings Changes

A number of brokerages recently weighed in on BHLB. Keefe, Bruyette & Woods lifted their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research note on Tuesday, December 24th. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Royal Bank of Canada reduced their target price on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Finally, Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

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.