Q3 2024 Earnings Forecast for Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Issued By Seaport Res Ptn

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Investment analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for Berkshire Hills Bancorp in a research report issued to clients and investors on Monday, September 16th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the savings and loans company will post earnings per share of $0.54 for the quarter, up from their prior forecast of $0.51. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.10 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $2.33 EPS.

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

Berkshire Hills Bancorp Stock Performance

NYSE BHLB opened at $27.28 on Tuesday. Berkshire Hills Bancorp has a 52-week low of $18.31 and a 52-week high of $28.51. The business’s 50-day moving average price is $26.52 and its 200 day moving average price is $23.60. The firm has a market cap of $1.18 billion, a P/E ratio of 54.56 and a beta of 0.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.28.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The company had revenue of $174.24 million for the quarter, compared to analyst estimates of $108.46 million. During the same quarter last year, the company posted $0.55 earnings per share.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.64%. The ex-dividend date is Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BHLB. Meeder Asset Management Inc. bought a new position in shares of Berkshire Hills Bancorp in the second quarter valued at approximately $104,000. Northwestern Mutual Wealth Management Co. boosted its stake in Berkshire Hills Bancorp by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after purchasing an additional 2,169 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Berkshire Hills Bancorp in the 1st quarter worth approximately $146,000. ProShare Advisors LLC boosted its stake in Berkshire Hills Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after purchasing an additional 601 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Berkshire Hills Bancorp in the 4th quarter worth approximately $219,000. Institutional investors own 83.07% of the company’s stock.

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.