FY2024 Earnings Forecast for BHLB Issued By Seaport Res Ptn

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for Berkshire Hills Bancorp in a research note issued to investors on Tuesday, October 29th. Seaport Res Ptn analyst L. Hunsicker now expects that the savings and loans company will earn $2.10 per share for the year, up from their prior 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 released its 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. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The company had revenue of $125.70 million during the quarter, compared to analyst estimates of $119.61 million. During the same period in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year.

Several other brokerages also recently weighed in on BHLB. Hovde Group upped their target price on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Janney Montgomery Scott downgraded Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research report on Monday, July 22nd. Finally, StockNews.com upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.80.

Berkshire Hills Bancorp Stock Performance

BHLB opened at $27.23 on Wednesday. The firm has a market cap of $1.18 billion, a P/E ratio of 54.46 and a beta of 0.86. Berkshire Hills Bancorp has a 1-year low of $19.38 and a 1-year high of $28.51. The company has a 50 day simple moving average of $26.97 and a two-hundred day simple moving average of $24.66. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in Berkshire Hills Bancorp by 0.7% in the first quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company’s stock worth $2,815,000 after purchasing an additional 876 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Berkshire Hills Bancorp by 77.5% during the 1st quarter. BNP Paribas Financial Markets now owns 21,698 shares of the savings and loans company’s stock valued at $497,000 after buying an additional 9,472 shares in the last quarter. LSV Asset Management raised its position in shares of Berkshire Hills Bancorp by 116.2% during the 1st quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock valued at $15,606,000 after buying an additional 365,952 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Berkshire Hills Bancorp in the 1st quarter valued at about $293,000. Finally, Empowered Funds LLC grew its position in Berkshire Hills Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 121,492 shares of the savings and loans company’s stock worth $2,785,000 after acquiring an additional 9,100 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.64%. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Berkshire Hills Bancorp Company Profile

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.