BOSTON (AP) — BOSTON (AP) — Berkshire Hills Bancorp Inc. (BHLB) on Friday reported third-quarter net income of $19.5 million.
The Boston-based company said it had net income of 45 cents per share. Earnings, adjusted for one-time gains and costs, were 50 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The bank holding company posted revenue of $165.5 million in the period. Its adjusted revenue was $109.8 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $109.3 million.
Berkshire Hills shares have fallen 33% since the beginning of the year. The stock has dropped 30% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BHLB at https://www.zacks.com/ap/BHLB