Berkshire Hills Bancorp, Inc. to Issue Quarterly Dividend of $0.18 (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) announced a quarterly dividend on Friday, November 1st, RTT News reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.18 per share by the savings and loans company on Wednesday, November 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.64%.

Berkshire Hills Bancorp has a dividend payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berkshire Hills Bancorp to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 29.8%.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock opened at $27.32 on Friday. The firm’s 50 day moving average price is $26.98 and its 200-day moving average price is $24.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $1.17 billion, a P/E ratio of 28.76 and a beta of 0.86. Berkshire Hills Bancorp has a one year low of $20.02 and a one year high of $28.51.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, equities research analysts predict that Berkshire Hills Bancorp will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Janney Montgomery Scott cut Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Monday, July 22nd. Hovde Group upped their target price on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.80.

Berkshire Hills Bancorp Company Profile

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.