Seeking Alpha

Berkshire Hills Bancorp (BHLB -6.1%) tumbles after saying it took a hit from spiking long term...

Berkshire Hills Bancorp (BHLB -6.1%) tumbles after saying it took a hit from spiking long term interest rates in Q2 - with tightening mortgage origination volumes and margins, impacts on commercial loan and interest rate swap revenues, and higher expenses as integration and efficiency projects were completed. EPS is expected at $0.48 vs. $0.55 consensus. The full report is expected on July 24. KBW downgrades to Hold from Buy. Previous: Berkshire is busy on the acquisition trail.
Comments (1)
  • jayapal
    , contributor
    Comments (11) | Send Message
     
    my nose tells me there is more to this story. the cfo is out as of friday. i understand the impact of tightening on mtg initiations but the "impact on commercial loan and interest rate swap revenues" may be a euphemism for some bad decisions by the cfo.
    22 Jul 2013, 10:48 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs