Berkshire Hills Bancorp (NYSE:BHLB) released its quarterly earnings results on Tuesday. The savings and loans company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.29 by $0.14, Fidelity Earnings reports. Berkshire Hills Bancorp had a negative net margin of 106.72% and a positive return on equity of 4.29%.
Shares of NYSE:BHLB traded down $0.90 on Thursday, reaching $27.41. 6,601 shares of the company were exchanged, compared to its average volume of 471,789. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp has a 1-year low of $8.55 and a 1-year high of $28.89. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.85 and a beta of 1.23. The stock’s 50-day simple moving average is $27.49.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 8th. Stockholders of record on Tuesday, June 29th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.75%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 80.00%.
BHLB has been the subject of several research reports. Compass Point reiterated a “neutral” rating and issued a $23.00 price target (down previously from $28.00) on shares of Berkshire Hills Bancorp in a research report on Thursday, May 6th. TheStreet raised shares of Berkshire Hills Bancorp from a “d+” rating to a “c-” rating in a research note on Wednesday, April 28th. Piper Sandler raised shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $25.00 to $27.00 in a research note on Tuesday, May 4th. Finally, Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Monday, May 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.80.
Berkshire Hills Bancorp Company Profile
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.
Read More: Diversification Important in Investing
Receive News & Ratings for Berkshire Hills Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.