Berkshire Hills Bancorp Inc reports results for the quarter ended in March - Earnings Summary

Beacon Financial

18/04/2024 14:31

* Berkshire Hills Bancorp Inc  BHLB.N  reported quarterly
adjusted
earnings of 49 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 63 cents.  The mean expectation of six analysts for the
quarter was for earnings of 47 cents per share. Wall Street
expected results to range from 46 cents to 48 cents per share.
    * Revenue fell 9.6% to $88.14 million from a year ago;
analysts
expected $89.01 million. 
    * Berkshire Hills Bancorp Inc's reported EPS for the quarter
was a
loss of 47 cents​.
    * The company reported a quarterly loss of $20.19 million.
    * Berkshire Hills Bancorp Inc shares had fallen by 10.4%
this
quarter and lost 17.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "hold."

Wall Street's median 12-month price target for Berkshire Hills
Bancorp Inc is $26.00 
This summary was machine generated from LSEG data April 18 at
01:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.47           0.49           Beat
 Dec. 31 2023      0.49           0.55           Beat
 Sep. 30 2023      0.49           0.45           Missed
 Jun. 30 2023      0.57           0.55           Missed