Analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to report quarterly sales of $96.00 million
Analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get a rating) will post sales of $96.00 million for the current fiscal quarter, according to Zacks. Two analysts have made earnings estimates for Berkshire Hills Bancorp, with the highest sales estimate of $97.10 million and the lowest estimate of $94.90 million. Berkshire Hills Bancorp posted sales of $97.40 million in the same quarter last year, suggesting a negative 1.4% year-over-year growth rate. The company is due to release its next results on Monday, January 1.
According to Zacks, analysts expect Berkshire Hills Bancorp to report annual sales of $388.85 million for the current year, with estimates ranging from $383.10 million to $394.60 million. . For next year, analysts expect the company to report sales of $417.75 million, with estimates ranging from $398.00 to $437.50 million. Zacks Investment Research’s sales calculations are an average average based on a survey of research analysts who track Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE: BHLB – Get a rating) last released its quarterly results on Wednesday, April 20. The savings and loan company reported earnings per share of $0.42 for the quarter, beating the consensus estimate of $0.40 by $0.02. Berkshire Hills Bancorp had a return on equity of 7.67% and a net margin of 27.75%. In the same period a year earlier, the company earned earnings per share of $0.32.
Several brokerages have weighed in on BHLB. StockNews.com began covering Berkshire Hills Bancorp in a report on Thursday, March 31. They issued a “hold” rating for the company. Compass Point downgraded Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and lowered its price target for the stock from $29.00 to $23.00 in a Thursday 21 research note. april. To finish, Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, April 22. One financial analyst gave the stock a sell rating, three gave the company a hold rating and three gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.20.
In related news, director Jeffrey W. Kip purchased 10,000 shares of Berkshire Hills Bancorp in a trade that took place on Monday, January 31. The stock was purchased at an average price of $29.25 per share, for a total transaction of $292,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at this link. 0.90% of the shares are currently held by insiders of the company.
Hedge funds have recently changed their positions in the stock. First Trust Advisors LP increased its holdings in Berkshire Hills Bancorp by 230.8% in the first quarter. First Trust Advisors LP now owns 44,275 shares of the savings and loan company valued at $1,206,000 after purchasing an additional 30,890 shares during the period. Morgan Stanley increased its stake in Berkshire Hills Bancorp by 88.0% in the second quarter. Morgan Stanley now owns 250,768 shares of the savings and loan company valued at $6,874,000 after purchasing an additional 117,406 shares during the period. SG Americas Securities LLC acquired a new stake in Berkshire Hills Bancorp in the third quarter valued at approximately $275,000. Victory Capital Management Inc. acquired a new stake in Berkshire Hills Bancorp in the third quarter valued at approximately $705,000. Finally, Advisor Group Holdings Inc. increased its holdings in Berkshire Hills Bancorp by 100.5% in the third quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the savings and loan company valued at $42,000 after purchasing an additional 786 shares during the period. Institutional investors hold 78.17% of the company’s shares.
Shares of NYSE BHLB opened at $24.74 on Friday. The company has a debt ratio of 0.10, a quick ratio of 0.83 and a current ratio of 0.82. The company has a market capitalization of $1.18 billion, a PE ratio of 9.59 and a beta of 1.04. The company has a 50-day simple moving average of $28.78 and a two-hundred-day simple moving average of $28.78. Berkshire Hills Bancorp has a fifty-two week low of $22.04 and a fifty-two week high of $31.78.
About Berkshire Hills Bancorp (Get a rating)
Berkshire Hills Bancorp, Inc operates as a banking holding company for Berkshire Bank which provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, term deposit certificates and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer and residential loans.
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