Berkshire Hills Bancorp, Inc. (BHLB) Expected to Announce Quarterly Sales of $118.90 Million
Equities analysts forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will post $118.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with estimates ranging from $118.20 million to $119.60 million. Berkshire Hills Bancorp reported sales of $101.64 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17%. The firm is expected to issue its next quarterly earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Berkshire Hills Bancorp will report full year sales of $118.90 million for the current year, with estimates ranging from $489.40 million to $495.50 million. For the next fiscal year, analysts expect that the company will post sales of $529.30 million per share, with estimates ranging from $525.50 million to $533.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $115.66 million during the quarter, compared to the consensus estimate of $115.50 million. Berkshire Hills Bancorp had a return on equity of 7.44% and a net margin of 11.37%.
Berkshire Hills Bancorp (NYSE BHLB) opened at $37.80 on Monday. The company has a market capitalization of $1,714.96, a PE ratio of 16.43 and a beta of 0.70. Berkshire Hills Bancorp has a 1-year low of $32.85 and a 1-year high of $40.00. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 14th. This is an increase from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 59.46%.
In other news, Director Patrick J. Sheehan bought 8,938 shares of Berkshire Hills Bancorp stock in a transaction on Monday, February 5th. The shares were bought at an average price of $37.11 per share, with a total value of $331,689.18. Following the acquisition, the director now directly owns 1,168 shares in the company, valued at approximately $43,344.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Ryan bought 3,000 shares of Berkshire Hills Bancorp stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $37.87 per share, for a total transaction of $113,610.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 14,438 shares of company stock worth $538,624. 1.71% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in BHLB. Parametric Portfolio Associates LLC lifted its holdings in Berkshire Hills Bancorp by 14.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 77,039 shares of the savings and loans company’s stock worth $2,708,000 after buying an additional 9,488 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Berkshire Hills Bancorp by 20.8% during the 2nd quarter. Voya Investment Management LLC now owns 15,752 shares of the savings and loans company’s stock worth $554,000 after buying an additional 2,708 shares during the last quarter. Royal Bank of Canada raised its position in shares of Berkshire Hills Bancorp by 4.3% during the 2nd quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock worth $182,000 after purchasing an additional 212 shares during the period. State Street Corp raised its position in shares of Berkshire Hills Bancorp by 3.8% during the 2nd quarter. State Street Corp now owns 1,096,485 shares of the savings and loans company’s stock worth $38,546,000 after purchasing an additional 39,632 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position 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. 68.99% of the stock is currently owned by institutional investors.
About Berkshire Hills Bancorp
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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