Berkshire Hills Bancorp, Inc. Expected to Earn FY2018 Earnings of $2.87 Per Share (BHLB)
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Analysts at Jefferies Group increased their FY2018 earnings per share estimates for Berkshire Hills Bancorp in a research note issued on Monday. Jefferies Group analyst C. Haire now forecasts that the savings and loans company will post earnings of $2.87 per share for the year, up from their prior estimate of $2.55. Jefferies Group has a “Hold” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for Berkshire Hills Bancorp’s FY2019 earnings at $3.13 EPS.
A number of other equities analysts also recently weighed in on BHLB. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Monday, September 18th. BidaskClub raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. FIG Partners reissued an “outperform” rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $39.50 target price on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.30.
Berkshire Hills Bancorp (BHLB) traded up $0.05 during midday trading on Wednesday, hitting $38.30. 105,757 shares of the stock were exchanged, compared to its average volume of 221,622. Berkshire Hills Bancorp has a 1-year low of $32.85 and a 1-year high of $40.00. 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 firm has a market capitalization of $1,720.00, a P/E ratio of 20.70 and a beta of 0.68.
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. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. The business had revenue of $100.83 million for the quarter, compared to the consensus estimate of $107.60 million.
Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its holdings in Berkshire Hills Bancorp by 11.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock valued at $110,000 after acquiring an additional 318 shares during the period. Quantbot Technologies LP bought a new stake in Berkshire Hills Bancorp during the second quarter valued at about $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Berkshire Hills Bancorp by 263.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock valued at $121,000 after acquiring an additional 2,500 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Berkshire Hills Bancorp by 129.9% during the second quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the savings and loans company’s stock valued at $154,000 after acquiring an additional 2,471 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Berkshire Hills Bancorp by 4.3% during the second 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 period. Institutional investors own 67.21% of the company’s stock.
In other Berkshire Hills Bancorp news, Director William J. Ryan bought 3,000 shares of the stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $37.87 per share, with a total value of $113,610.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Williar Dunlaevy sold 7,455 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $39.30, for a total transaction of $292,981.50. Following the sale, the director now owns 67,747 shares of the company’s stock, valued at $2,662,457.10. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.
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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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