Q3 2024 Earnings Estimate for Berkshire Hills Bancorp, Inc. Issued By Seaport Res Ptn (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Stock analysts at Seaport Res Ptn lifted their Q3 2024 EPS estimates for shares of Berkshire Hills Bancorp in a report issued on Monday, September 16th. Seaport Res Ptn analyst L. Hunsicker now expects that the savings and loans company will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.51. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.10 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $2.33 EPS.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, July 18th. The savings and loans company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The company had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $108.46 million. During the same quarter last year, the company earned $0.55 EPS.

BHLB has been the topic of several other reports. Janney Montgomery Scott lowered 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 upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Hovde Group upped their price target on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.80.

Berkshire Hills Bancorp Stock Up 1.2 %

BHLB opened at $26.83 on Tuesday. Berkshire Hills Bancorp has a 12 month low of $18.31 and a 12 month high of $28.51. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $26.24 and its 200-day moving average price is $23.49. The company has a market cap of $1.16 billion, a P/E ratio of 53.66 and a beta of 0.86.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in Berkshire Hills Bancorp in the second quarter worth $104,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Berkshire Hills Bancorp by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after purchasing an additional 2,169 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Berkshire Hills Bancorp in the 1st quarter worth about $146,000. ProShare Advisors LLC boosted its stake in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock valued at $201,000 after purchasing an additional 601 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Berkshire Hills Bancorp during the fourth quarter valued at about $219,000. 83.07% of the stock is currently owned by institutional investors.

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.