Berkshire Hills Bancorp (NYSE:BHLB) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Berkshire Hills Bancorp (NYSE:BHLB) released its earnings results on Thursday. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06, Zacks reports. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE:BHLB opened at $29.15 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average price is $29.10 and its two-hundred day moving average price is $27.92. Berkshire Hills Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 30.68 and a beta of 0.89.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BHLB shares. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada cut their price target on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Keefe, Bruyette & Woods boosted their price objective on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research report on Tuesday, December 24th. Finally, Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.13.

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.