Berkshire Hills Bancorp, Inc. (BHLB) To Go Ex-Dividend on September 30th

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) declared a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.18 per share by the savings and loans company on Thursday, October 10th. This represents a $0.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, September 30th.

Berkshire Hills Bancorp has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Berkshire Hills Bancorp to earn $2.38 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 30.3%.

Berkshire Hills Bancorp Stock Performance

Shares of Berkshire Hills Bancorp stock opened at $26.73 on Friday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 53.46 and a beta of 0.86. The stock’s 50-day moving average is $26.68 and its 200-day moving average is $23.84. Berkshire Hills Bancorp has a one year low of $18.31 and a one year high of $28.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The business had revenue of $174.24 million for the quarter, compared to analyst estimates of $108.46 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Equities analysts predict that Berkshire Hills Bancorp will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BHLB. Janney Montgomery Scott lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Monday, July 22nd. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, 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 research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.80.

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.