Berkshire Hills Bancorp, Inc. Expected to Post FY2020 Earnings of $2.66 Per Share (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Equities researchers at Piper Sandler issued their FY2020 earnings estimates for shares of Berkshire Hills Bancorp in a note issued to investors on Tuesday, January 14th. Piper Sandler analyst M. Fitzgibbon anticipates that the savings and loans company will post earnings per share of $2.66 for the year.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Monday, October 28th. The savings and loans company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $118.28 million during the quarter, compared to analysts’ expectations of $120.37 million. Berkshire Hills Bancorp had a return on equity of 7.68% and a net margin of 14.48%.

A number of other research analysts have also recently issued reports on the company. ValuEngine cut Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Berkshire Hills Bancorp has an average rating of “Hold” and an average target price of $31.80.

Shares of NYSE BHLB traded up $0.19 during midday trading on Friday, reaching $32.06. 28,370 shares of the company traded hands, compared to its average volume of 138,427. The firm has a market cap of $1.59 billion, a PE ratio of 11.83 and a beta of 1.09. The stock’s 50-day simple moving average is $32.30 and its 200-day simple moving average is $31.00. Berkshire Hills Bancorp has a 12 month low of $26.02 and a 12 month high of $33.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.95.

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP grew its position in shares of Berkshire Hills Bancorp by 230.8% during the 1st quarter. First Trust Advisors LP now owns 44,275 shares of the savings and loans company’s stock worth $1,206,000 after buying an additional 30,890 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Berkshire Hills Bancorp by 30.0% during the 2nd quarter. Wells Fargo & Company MN now owns 137,280 shares of the savings and loans company’s stock valued at $4,309,000 after purchasing an additional 31,684 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Berkshire Hills Bancorp by 3,396.7% during the 2nd quarter. Bank of Montreal Can now owns 4,266 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 4,144 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 15.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 269,202 shares of the savings and loans company’s stock valued at $8,451,000 after purchasing an additional 35,975 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Berkshire Hills Bancorp by 14.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 678,034 shares of the savings and loans company’s stock valued at $21,284,000 after purchasing an additional 87,656 shares in the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.

About Berkshire Hills Bancorp

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.

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