Seaport Res Ptn Weighs in on Berkshire Hills Bancorp, Inc.’s Q3 2024 Earnings (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLBFree Report) – Seaport Res Ptn lifted their Q3 2024 earnings estimates for Berkshire Hills Bancorp in a research note issued to investors on Monday, January 29th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the savings and loans company will post earnings of $0.53 per share for the quarter, up from their prior estimate of $0.40. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $1.91 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $2.09 EPS, Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.61 EPS and FY2025 earnings at $2.51 EPS.

A number of other analysts also recently commented on the company. StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. Piper Sandler upgraded shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

Check Out Our Latest Research Report on Berkshire Hills Bancorp

Berkshire Hills Bancorp Trading Down 4.2 %

Shares of NYSE:BHLB opened at $24.00 on Wednesday. Berkshire Hills Bancorp has a fifty-two week low of $18.07 and a fifty-two week high of $31.52. The company has a market cap of $1.05 billion, a PE ratio of 15.00 and a beta of 0.89. The company’s 50-day moving average price is $23.79 and its 200 day moving average price is $21.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.50.

Berkshire Hills Bancorp (NYSE:BHLBGet Free Report) last released its earnings results on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Berkshire Hills Bancorp had a return on equity of 9.48% and a net margin of 11.24%. The company had revenue of $142.15 million during the quarter, compared to the consensus estimate of $109.05 million. During the same period in the previous year, the firm posted $0.64 EPS.

Hedge Funds Weigh In On Berkshire Hills Bancorp

A number of hedge funds have recently made changes to their positions in BHLB. Lazard Asset Management LLC bought a new position in shares of Berkshire Hills Bancorp in the 1st quarter worth about $35,000. Quarry LP bought a new stake in shares of Berkshire Hills Bancorp in the 1st quarter valued at $57,000. Russell Investments Group Ltd. bought a new position in Berkshire Hills Bancorp during the first quarter worth $57,000. Tower Research Capital LLC TRC grew its holdings in Berkshire Hills Bancorp by 304.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,538 shares of the savings and loans company’s stock worth $63,000 after purchasing an additional 1,910 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Berkshire Hills Bancorp by 14.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,120 shares of the savings and loans company’s stock valued at $85,000 after acquiring an additional 514 shares during the period. 82.24% of the stock is currently owned by institutional investors.

Insider Transactions at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, Director Mary Anne Callahan bought 2,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were purchased at an average price of $20.60 per share, for a total transaction of $41,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $206,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Michael Zaitzeff sold 51,910 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $25.18, for a total transaction of $1,307,093.80. Following the completion of the transaction, the director now owns 2,665 shares of the company’s stock, valued at $67,104.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Anne Callahan acquired 2,000 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average cost of $20.60 per share, for a total transaction of $41,200.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $206,000. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by insiders.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.00%. The ex-dividend date was Wednesday, November 15th. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.00%.

Berkshire Hills Bancorp Company Profile

(Get Free Report)

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, interest-bearing checking, 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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