Wall Street analysts forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will post $117.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Berkshire Hills Bancorp’s earnings. The lowest sales estimate is $114.60 million and the highest is $119.70 million. Berkshire Hills Bancorp reported sales of $118.62 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The company is expected to report its next quarterly earnings report on Wednesday, October 16th.

According to Zacks, analysts expect that Berkshire Hills Bancorp will report full year sales of $450.45 million for the current year, with estimates ranging from $443.40 million to $457.50 million. For the next fiscal year, analysts forecast that the business will post sales of $470.35 million, with estimates ranging from $456.70 million to $484.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The business had revenue of $109.11 million during the quarter, compared to analyst estimates of $114.10 million. Berkshire Hills Bancorp had a net margin of 16.28% and a return on equity of 7.76%.

Several equities analysts have recently issued reports on BHLB shares. Compass Point raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Wednesday, July 24th. ValuEngine raised shares of Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 29th. Piper Jaffray Companies assumed coverage on shares of Berkshire Hills Bancorp in a research report on Friday, May 31st. They set a “neutral” rating and a $33.00 price objective for the company. TheStreet raised shares of Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, May 8th. Finally, Sandler O’Neill downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.20.

In other Berkshire Hills Bancorp news, Director Rheo A. Brouillard sold 9,454 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $32.80, for a total value of $310,091.20. Following the completion of the transaction, the director now directly owns 21,004 shares in the company, valued at $688,931.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.76% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Berkshire Hills Bancorp in the second quarter worth about $29,000. Versant Capital Management Inc boosted its position in Berkshire Hills Bancorp by 757.5% during the 1st quarter. Versant Capital Management Inc now owns 1,535 shares of the savings and loans company’s stock valued at $41,000 after acquiring an additional 1,356 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $54,000. Bank of Montreal Can lifted its holdings in shares of Berkshire Hills Bancorp by 3,396.7% during the second 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 during the last quarter. Finally, Peoples Financial Services CORP. purchased a new position in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $193,000. Institutional investors own 77.52% of the company’s stock.

Shares of BHLB stock traded down $0.34 during trading on Friday, hitting $28.74. The company’s stock had a trading volume of 162,714 shares, compared to its average volume of 267,620. The company has a market cap of $1.51 billion, a P/E ratio of 10.61 and a beta of 1.06. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $30.94. Berkshire Hills Bancorp has a 52 week low of $25.77 and a 52 week high of $43.40.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 3.20%. Berkshire Hills Bancorp’s dividend payout ratio is 33.95%.

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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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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