FY2018 EPS Estimates for Berkshire Hills Bancorp, Inc. Increased by Jefferies Financial Group (BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Investment analysts at Jefferies Financial Group boosted their FY2018 earnings per share (EPS) estimates for shares of Berkshire Hills Bancorp in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the savings and loans company will post earnings of $2.75 per share for the year, up from their prior forecast of $2.73. Jefferies Financial Group also issued estimates for Berkshire Hills Bancorp’s Q4 2018 earnings at $0.67 EPS, Q1 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.77 EPS and Q4 2019 earnings at $0.77 EPS.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Wednesday, October 17th. The savings and loans company reported $0.70 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. Berkshire Hills Bancorp had a net margin of 15.64% and a return on equity of 8.33%. The firm had revenue of $118.62 million during the quarter, compared to analysts’ expectations of $120.17 million.

Several other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. FIG Partners cut shares of Berkshire Hills Bancorp from an “outperform” rating to a “market-perform” rating in a research report on Wednesday, October 31st. TheStreet lowered shares of Berkshire Hills Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, January 4th. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Finally, Compass Point lowered shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 price objective on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.50.

Shares of NYSE BHLB opened at $27.86 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.24. Berkshire Hills Bancorp has a 52-week low of $25.77 and a 52-week high of $44.25. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.17 and a beta of 1.16.

In related news, Director David Brunelle bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average cost of $28.36 per share, with a total value of $113,440.00. Following the completion of the purchase, the director now directly owns 63 shares in the company, valued at $1,786.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard M. Marotta bought 1,860 shares of the business’s stock in a transaction that occurred on Thursday, December 20th. The shares were bought at an average cost of $26.97 per share, for a total transaction of $50,164.20. Following the completion of the purchase, the insider now owns 37,865 shares of the company’s stock, valued at $1,021,219.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 8,475 shares of company stock worth $238,183. Insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. United Services Automobile Association boosted its stake in Berkshire Hills Bancorp by 60.8% during the second quarter. United Services Automobile Association now owns 120,965 shares of the savings and loans company’s stock worth $4,911,000 after acquiring an additional 45,719 shares in the last quarter. Aristotle Capital Boston LLC boosted its stake in Berkshire Hills Bancorp by 6.2% during the third quarter. Aristotle Capital Boston LLC now owns 295,029 shares of the savings and loans company’s stock worth $12,008,000 after acquiring an additional 17,291 shares in the last quarter. BlackRock Inc. boosted its stake in Berkshire Hills Bancorp by 104.6% during the second quarter. BlackRock Inc. now owns 5,464,477 shares of the savings and loans company’s stock worth $221,859,000 after acquiring an additional 2,793,131 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its stake in Berkshire Hills Bancorp by 2.3% during the third quarter. Eagle Boston Investment Management Inc. now owns 270,674 shares of the savings and loans company’s stock worth $11,016,000 after acquiring an additional 5,965 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Berkshire Hills Bancorp by 14.0% during the third quarter. First Trust Advisors LP now owns 14,645 shares of the savings and loans company’s stock worth $596,000 after acquiring an additional 1,803 shares in the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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