Berkshire Hills Bancorp (NYSE:BHLB) issued its quarterly earnings results on Wednesday. The savings and loans company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.25), MarketWatch Earnings reports. The firm had revenue of $94.97 million during the quarter, compared to analyst estimates of $105.70 million. Berkshire Hills Bancorp had a positive return on equity of 3.87% and a negative net margin of 95.25%.

NYSE BHLB traded up $0.20 during trading on Friday, hitting $9.96. 748,303 shares of the company’s stock traded hands, compared to its average volume of 485,957. The stock has a market capitalization of $499.89 million, a price-to-earnings ratio of 8.20 and a beta of 1.32. Berkshire Hills Bancorp has a 12-month low of $9.15 and a 12-month high of $33.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 0.90. The business has a 50 day moving average of $10.63 and a 200-day moving average of $17.47.

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date was Friday, June 26th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 40.00%.

A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $15.50 to $14.50 in a research note on Friday, June 12th. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 7th. DA Davidson lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $14.00 in a research note on Wednesday, May 6th. Finally, TheStreet lowered shares of Berkshire Hills Bancorp from a “c” rating to a “d” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.75.

Berkshire Hills Bancorp Company Profile

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 for Berkshire Hills Bancorp (NYSE:BHLB)

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