Analysts Expect Berkshire Hills Bancorp, Inc. (BHLB) Will Post Quarterly Sales of $112.80 Million

Wall Street brokerages forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will post sales of $112.80 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Berkshire Hills Bancorp’s earnings, with the lowest sales estimate coming in at $111.80 million and the highest estimate coming in at $113.80 million. Berkshire Hills Bancorp posted sales of $75.88 million during the same quarter last year, which would indicate a positive year over year growth rate of 48.7%. The business is expected to announce its next earnings report on Monday, January 29th.

On average, analysts expect that Berkshire Hills Bancorp will report full-year sales of $112.80 million for the current financial year, with estimates ranging from $418.50 million to $420.40 million. For the next year, analysts anticipate that the company will report sales of $501.35 million per share, with estimates ranging from $500.60 million to $502.10 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Berkshire Hills Bancorp.

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

A number of equities research analysts recently commented on BHLB shares. BidaskClub upgraded Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Monday, September 18th. Piper Jaffray Companies restated a “buy” rating and set a $39.50 price objective on shares of Berkshire Hills Bancorp in a research note on Sunday, October 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $41.00 target price on shares of Berkshire Hills Bancorp in a report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.90.

In related news, Director James Williar Dunlaevy sold 7,455 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $39.30, for a total transaction of $292,981.50. Following the completion of the sale, the director now owns 67,747 shares of the company’s stock, valued at $2,662,457.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Carroll sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $38.50, for a total transaction of $77,000.00. Following the completion of the sale, the insider now owns 7,255 shares in the company, valued at approximately $279,317.50. The disclosure for this sale can be found here. Corporate insiders own 2.82% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Berkshire Hills Bancorp by 4.3% in the 2nd quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock valued at $182,000 after acquiring an additional 212 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Berkshire Hills Bancorp by 0.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,800 shares of the savings and loans company’s stock worth $1,821,000 after purchasing an additional 300 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Berkshire Hills Bancorp by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock worth $110,000 after purchasing an additional 318 shares during the period. PNC Financial Services Group Inc. boosted its position in Berkshire Hills Bancorp by 4.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,690 shares of the savings and loans company’s stock valued at $306,000 after buying an additional 400 shares during the period. Finally, Bessemer Group Inc. boosted its position in Berkshire Hills Bancorp by 0.9% in the 2nd quarter. Bessemer Group Inc. now owns 49,732 shares of the savings and loans company’s stock valued at $1,748,000 after buying an additional 432 shares during the period. Hedge funds and other institutional investors own 66.31% of the company’s stock.

Shares of Berkshire Hills Bancorp (BHLB) opened at $37.85 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market capitalization of $1,713.36, a price-to-earnings ratio of 16.60 and a beta of 0.68. Berkshire Hills Bancorp has a one year low of $32.85 and a one year high of $40.00.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.84 dividend on an annualized basis and a yield of 2.22%. Berkshire Hills Bancorp’s payout ratio is 45.16%.

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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.

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