Zacks: Brokerages Anticipate Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Will Announce Quarterly Sales of $115.50 Million

Wall Street brokerages expect that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will report $115.50 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Berkshire Hills Bancorp’s earnings. The lowest sales estimate is $113.09 million and the highest is $117.90 million. Berkshire Hills Bancorp reported sales of $114.47 million in the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The business is expected to report its next earnings report after the market closes on Monday, January 27th.

According to Zacks, analysts expect that Berkshire Hills Bancorp will report full year sales of $450.87 million for the current year, with estimates ranging from $446.53 million to $455.20 million. For the next financial year, analysts forecast that the business will post sales of $466.62 million, with estimates ranging from $462.24 million to $471.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Monday, October 28th. The savings and loans company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $118.28 million during the quarter, compared to the consensus estimate of $120.37 million. Berkshire Hills Bancorp had a return on equity of 7.68% and a net margin of 14.48%.

Several equities research analysts have recently commented on BHLB shares. ValuEngine downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Berkshire Hills Bancorp presently has an average rating of “Hold” and an average price target of $31.80.

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in shares of Berkshire Hills Bancorp by 15.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 269,202 shares of the savings and loans company’s stock worth $8,451,000 after purchasing an additional 35,975 shares during the period. Barclays PLC increased its position in shares of Berkshire Hills Bancorp by 50.7% in the third quarter. Barclays PLC now owns 86,246 shares of the savings and loans company’s stock worth $2,527,000 after purchasing an additional 28,999 shares during the period. Morgan Stanley increased its position in shares of Berkshire Hills Bancorp by 150.0% in the second quarter. Morgan Stanley now owns 224,614 shares of the savings and loans company’s stock worth $7,051,000 after purchasing an additional 134,768 shares during the period. State of Tennessee Treasury Department increased its position in shares of Berkshire Hills Bancorp by 112.5% in the third quarter. State of Tennessee Treasury Department now owns 45,149 shares of the savings and loans company’s stock worth $1,322,000 after purchasing an additional 23,898 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Berkshire Hills Bancorp by 623.5% in the third quarter. Russell Investments Group Ltd. now owns 64,779 shares of the savings and loans company’s stock worth $1,898,000 after purchasing an additional 55,826 shares during the period. Hedge funds and other institutional investors own 72.85% of the company’s stock.

Shares of NYSE BHLB traded up $0.16 during trading hours on Friday, hitting $32.03. The company had a trading volume of 134,553 shares, compared to its average volume of 122,241. The stock has a market capitalization of $1.60 billion, a P/E ratio of 17.99 and a beta of 1.09. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. Berkshire Hills Bancorp has a 1-year low of $26.02 and a 1-year high of $33.72. The firm’s 50 day moving average is $32.30 and its 200-day moving average is $31.00.

Berkshire Hills Bancorp Company Profile

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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