FY2024 Earnings Estimate for BHLB Issued By Seaport Res Ptn

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Equities researchers at Seaport Res Ptn lifted their FY2024 EPS estimates for Berkshire Hills Bancorp in a report released on Tuesday, October 29th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the savings and loans company will post earnings of $2.10 per share for the year, up from their prior estimate of $2.09. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.12 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q4 2024 earnings at $0.48 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.36 EPS.

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

Berkshire Hills Bancorp Stock Down 1.0 %

Shares of BHLB stock opened at $27.47 on Wednesday. The stock’s fifty day moving average price is $26.92 and its 200 day moving average price is $24.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01. Berkshire Hills Bancorp has a 1-year low of $19.38 and a 1-year high of $28.51. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 54.94 and a beta of 0.86.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The business had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $119.61 million. During the same quarter last year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of BHLB. nVerses Capital LLC grew its stake in shares of Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after buying an additional 1,400 shares during the period. Meeder Asset Management Inc. purchased a new position in Berkshire Hills Bancorp in the second quarter worth approximately $104,000. Northwestern Mutual Wealth Management Co. increased its stake in Berkshire Hills Bancorp by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after acquiring an additional 2,169 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Berkshire Hills Bancorp in the first quarter valued at $146,000. Finally, Joel Isaacson & Co. LLC acquired a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $211,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.62%. Berkshire Hills Bancorp’s payout ratio is 144.00%.

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.