Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Forecasted to Earn Q4 2024 Earnings of $0.51 Per Share

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Research analysts at Seaport Res Ptn lowered their Q4 2024 earnings per share (EPS) estimates for shares of Berkshire Hills Bancorp in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst L. Hunsicker now forecasts that the savings and loans company will post earnings per share of $0.51 for the quarter, down from their prior forecast of $0.55. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.05 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $0.61 EPS.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. Piper Sandler raised Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target on the stock in a report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.00.

Berkshire Hills Bancorp Trading Up 2.8 %

NYSE:BHLB opened at $21.91 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $21.83 and its two-hundred day moving average is $22.30. Berkshire Hills Bancorp has a 52 week low of $18.07 and a 52 week high of $25.79. The company has a market cap of $952.21 million, a PE ratio of 43.82 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. The company had revenue of $169.32 million for the quarter, compared to the consensus estimate of $107.89 million. During the same quarter last year, the business posted $0.63 EPS.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio is presently 144.00%.

Insider Transactions at Berkshire Hills Bancorp

In other news, Director Michael Zaitzeff sold 29,062 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $23.09, for a total value of $671,041.58. Following the sale, the director now owns 127,147 shares of the company’s stock, valued at approximately $2,935,824.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Michael Zaitzeff sold 29,062 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $23.09, for a total transaction of $671,041.58. Following the sale, the director now directly owns 127,147 shares of the company’s stock, valued at $2,935,824.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baye Adofo-Wilson sold 10,074 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,850 shares of company stock valued at $3,437,063. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHLB. Private Advisor Group LLC acquired a new position in Berkshire Hills Bancorp during the third quarter valued at $202,000. Victory Capital Management Inc. purchased a new position in Berkshire Hills Bancorp in the fourth quarter valued at about $219,000. Teton Advisors Inc. purchased a new position in Berkshire Hills Bancorp in the fourth quarter valued at about $240,000. Berkshire Bank grew its stake in Berkshire Hills Bancorp by 15.5% in the third quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock valued at $252,000 after purchasing an additional 1,691 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in Berkshire Hills Bancorp in the fourth quarter valued at about $258,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.