Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Announces $0.18 Quarterly Dividend

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 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, September 30th.

Berkshire Hills Bancorp has a payout ratio of 30.3% indicating that 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 Price Performance

Shares of BHLB stock opened at $26.73 on Friday. Berkshire Hills Bancorp has a twelve month low of $18.31 and a twelve 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 stock has a fifty day simple moving average of $26.68 and a two-hundred day simple moving average of $23.84. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 53.46 and a beta of 0.86.

Berkshire Hills Bancorp (NYSE:BHLB) last issued 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. The company had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $108.46 million. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. During the same period in the prior year, the business earned $0.55 EPS. On average, analysts predict that Berkshire Hills Bancorp will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Janney Montgomery Scott lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Monday, July 22nd. StockNews.com upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Hovde Group upped their price objective on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.