Berkshire Hills Bancorp (NYSE:BHLB) Hits New 12-Month High – What’s Next?

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) hit a new 52-week high during trading on Monday . The stock traded as high as $32.23 and last traded at $32.18, with a volume of 13445 shares trading hands. The stock had previously closed at $31.22.

Berkshire Hills Bancorp Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day moving average price of $28.00 and a 200 day moving average price of $25.64. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 32.97 and a beta of 0.86.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. As a group, equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.30%. Berkshire Hills Bancorp’s payout ratio is presently 75.79%.

Institutional Trading of Berkshire Hills Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Berkshire Hills Bancorp by 3.3% in the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company’s stock worth $415,000 after purchasing an additional 496 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock valued at $201,000 after buying an additional 601 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Berkshire Hills Bancorp by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock worth $520,000 after acquiring an additional 1,071 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Berkshire Hills Bancorp in the third quarter worth approximately $34,000. Finally, nVerses Capital LLC boosted its holdings in Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.