Equities Analysts Set Expectations for BHLB FY2024 Earnings

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for shares of 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 per share of $2.10 for the year, up from their previous forecast 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.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $125.70 million during the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share.

BHLB has been the subject of several other reports. Hovde Group increased their target price on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Janney Montgomery Scott downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.80.

Berkshire Hills Bancorp Trading Down 1.4 %

Shares of BHLB opened at $27.23 on Wednesday. Berkshire Hills Bancorp has a fifty-two week low of $19.38 and a fifty-two week high of $28.51. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 54.46 and a beta of 0.86. The firm has a 50 day moving average price of $26.97 and a 200-day moving average price of $24.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01.

Institutional Trading of Berkshire Hills Bancorp

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC boosted its stake in 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 worth $54,000 after purchasing an additional 1,400 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Berkshire Hills Bancorp in the second quarter worth approximately $104,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 valued at $134,000 after buying an additional 2,169 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $146,000. Finally, ProShare Advisors LLC raised its holdings in Berkshire Hills Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after acquiring an additional 601 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 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.