Analysts Expect Berkshire Hills Bancorp, Inc. (BHLB) Will Post Quarterly Sales of $118.90 Million

Equities analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to post sales of $118.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Berkshire Hills Bancorp’s earnings. The lowest sales estimate is $118.20 million and the highest is $119.60 million. Berkshire Hills Bancorp posted sales of $101.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 17%. The business is scheduled to announce its next earnings results after the market closes on Monday, April 23rd.

On average, analysts expect that Berkshire Hills Bancorp will report full year sales of $118.90 million for the current financial year, with estimates ranging from $489.40 million to $495.50 million. For the next fiscal year, analysts forecast that the business will report sales of $530.45 million per share, with estimates ranging from $527.80 million to $533.10 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Berkshire Hills Bancorp.

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Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $115.66 million for the quarter, compared to analyst estimates of $115.50 million. Berkshire Hills Bancorp had a net margin of 11.37% and a return on equity of 7.09%.

BHLB has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Wednesday, January 31st. Piper Jaffray restated a “buy” rating and issued a $42.50 target price on shares of Berkshire Hills Bancorp in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Berkshire Hills Bancorp presently has a consensus rating of “Buy” and a consensus price target of $41.50.

NYSE:BHLB traded down $0.35 on Friday, reaching $38.05. The stock had a trading volume of 81,629 shares, compared to its average volume of 184,227. The firm has a market cap of $1,724.04, a price-to-earnings ratio of 16.52 and a beta of 0.65. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Berkshire Hills Bancorp has a 12-month low of $32.85 and a 12-month high of $40.10.

In related news, Director Patrick J. Sheehan acquired 8,938 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was bought at an average price of $37.11 per share, with a total value of $331,689.18. Following the purchase, the director now directly owns 1,168 shares in the company, valued at approximately $43,344.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick J. Sheehan acquired 1,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $37.00 per share, with a total value of $37,000.00. Following the purchase, the director now owns 1,168 shares in the company, valued at $43,216. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 10,938 shares of company stock valued at $405,689. Corporate insiders own 2.82% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its position in Berkshire Hills Bancorp by 564.0% during the 4th quarter. Advisor Group Inc. now owns 2,875 shares of the savings and loans company’s stock worth $105,000 after purchasing an additional 2,442 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Berkshire Hills Bancorp by 236.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,162 shares of the savings and loans company’s stock worth $116,000 after purchasing an additional 2,222 shares in the last quarter. Intrust Bank NA acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth approximately $212,000. Pitcairn Co. acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth approximately $214,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth approximately $217,000. 68.82% of the stock is owned by institutional investors.

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About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company, which engages in the provision of community banking services. The firm’s loan portfolio comprises of the following: commercial real estate; commercial and industrial; residential mortgage; and consumer. It also offers savings and checking accounts, deposits, lending, mortgages loans, insurance, and wealth management products.

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

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