Wall Street analysts forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will post earnings per share of $0.57 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.57. Berkshire Hills Bancorp reported earnings of $0.56 per share during the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 29th.

On average, analysts expect that Berkshire Hills Bancorp will report full-year earnings of $2.29 per share for the current financial year, with EPS estimates ranging from $2.28 to $2.30. For the next fiscal year, analysts anticipate that the company will report earnings of $2.58 per share, with EPS estimates ranging from $2.55 to $2.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. The firm had revenue of $100.83 million during the quarter, compared to analysts’ expectations of $107.60 million.

A number of equities analysts recently commented on the stock. BidaskClub cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $39.50 price objective on shares of Berkshire Hills Bancorp in a report on Sunday, October 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $40.00 price objective on shares of Berkshire Hills Bancorp in a report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $41.00 price objective on shares of Berkshire Hills Bancorp in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $40.90.

In other news, insider Michael P. Daly sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $33.78, for a total value of $844,500.00. Following the completion of the sale, the insider now owns 103,670 shares in the company, valued at approximately $3,501,972.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.71% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Berkshire Hills Bancorp by 20.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock worth $109,814,000 after acquiring an additional 540,080 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Berkshire Hills Bancorp during the 2nd quarter worth approximately $15,179,000. Koch Industries Inc. bought a new position in shares of Berkshire Hills Bancorp during the 2nd quarter worth approximately $288,000. Peregrine Capital Management LLC bought a new position in shares of Berkshire Hills Bancorp during the 3rd quarter worth approximately $10,514,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Berkshire Hills Bancorp by 29.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,137,717 shares of the savings and loans company’s stock worth $39,991,000 after acquiring an additional 255,429 shares in the last quarter. Institutional investors and hedge funds own 67.40% of the company’s stock.

TRADEMARK VIOLATION WARNING: “$0.57 EPS Expected for Berkshire Hills Bancorp, Inc. (BHLB) This Quarter” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/11/20/0-57-eps-expected-for-berkshire-hills-bancorp-inc-bhlb-this-quarter.html.

Berkshire Hills Bancorp (BHLB) traded up $0.15 during mid-day trading on Monday, hitting $36.80. 169,200 shares of the company were exchanged, compared to its average volume of 212,045. Berkshire Hills Bancorp has a 52-week low of $32.80 and a 52-week high of $40.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.91. The stock has a market cap of $1,665.84, a PE ratio of 16.14 and a beta of 0.69.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.28%. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.16%.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

Get a free copy of the Zacks research report on Berkshire Hills Bancorp (BHLB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Berkshire Hills Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp Inc. and related stocks with our FREE daily email newsletter.