Brokers Set Expectations for Berkshire Hills Bancorp, Inc.’s Q4 2024 Earnings (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Equities research analysts at Seaport Res Ptn dropped their Q4 2024 earnings per share estimates for Berkshire Hills Bancorp in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst L. Hunsicker now anticipates that the savings and loans company will earn $0.51 per share for the quarter, down from their prior forecast of $0.55. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.05 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $0.61 EPS.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same quarter in the prior year, the business earned $0.63 earnings per share.

A number of other analysts have also recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 26th. Keefe, Bruyette & Woods upped their price objective on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. StockNews.com cut Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Piper Sandler upgraded Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price objective for the company in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

Berkshire Hills Bancorp Stock Up 0.3 %

Berkshire Hills Bancorp stock opened at $22.36 on Thursday. The stock has a market cap of $971.86 million, a PE ratio of 44.72 and a beta of 0.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. Berkshire Hills Bancorp has a one year low of $18.07 and a one year high of $25.79. The stock has a fifty day moving average of $21.85 and a 200 day moving average of $22.31.

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 144.00%.

Insider Transactions at Berkshire Hills Bancorp

In other news, Director Michael Zaitzeff sold 20,718 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $22.73, for a total value of $470,920.14. Following the transaction, the director now owns 156,209 shares of the company’s stock, valued at $3,550,630.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Michael Zaitzeff sold 20,718 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $22.73, for a total transaction of $470,920.14. Following the sale, the director now owns 156,209 shares of the company’s stock, valued at approximately $3,550,630.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $22.19, for a total value of $223,542.06. The disclosure for this sale can be found here. Insiders have sold 152,850 shares of company stock valued at $3,437,063 over the last quarter. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Berkshire Hills Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC bought a new stake in Berkshire Hills Bancorp during the 3rd quarter valued at approximately $202,000. Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp during the 4th quarter valued at approximately $219,000. Teton Advisors Inc. bought a new stake in Berkshire Hills Bancorp during the 4th quarter valued at approximately $240,000. Berkshire Bank raised its stake in Berkshire Hills Bancorp by 15.5% during the 3rd quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock valued at $252,000 after purchasing an additional 1,691 shares during the period. Finally, J.W. Cole Advisors Inc. bought a new stake in Berkshire Hills Bancorp in the 4th quarter worth approximately $258,000. Institutional investors own 83.07% of the company’s stock.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.