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Berkshire Hills meets 1Q profit forecasts

PITTSFIELD, Mass. (AP) _ Berkshire Hills Bancorp Inc. (BHLB) on Monday reported first-quarter net income of $15.5 million.

On a per-share basis, the Pittsfield, Massachusetts-based company said it had profit of 44 cents. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 55 cents per share.

The bank holding company posted revenue of $115.5 million in the period. Its adjusted revenue was $101.6 million.

Berkshire Hills shares have dropped 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $35.75, a rise of 27 percent 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

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Keywords: Berkshire Hills Bancorp, Earnings Report