Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc. operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc. The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies. The company was founded in June 2000 and is headquartered in Boston, MA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Berkshire Hills Bancorp excels in Q4 2022, faces economic challenges

Berkshire Hills Bancorp delivered strong financial performance in Q4 and full-year 2022, supported by a robust balance sheet and progress on key strategic initiatives.
The company faces challenges related to potential economic uncertainties, office space exposure, and credit risk management, which require careful monitoring and strategic decision-making.
Opportunities for growth and profitability exist in the outlook for 2023, strategic hiring, and margin improvement, positioning the company for continued success and value creation.

Berkshire Hills Bancorp achieves record Q1 earnings amid market challenges

Berkshire Hills Bancorp delivered strong financial performance in Q1, with record EPS and notable growth in key metrics.
The company faces challenges in managing net interest margin pressure and navigating market uncertainties.
Opportunities lie in optimizing capital deployment, enhancing operational efficiency, and maintaining strong asset quality.
Overall, Berkshire Hills Bancorp's performance reflects resilience and strategic focus amidst evolving market dynamics.

Berkshire Bank reports Q2 income dip, focuses on sustainability

Berkshire Bank's Q2 showed mixed performance with income decline but stable deposits.
Strengths include sustainability focus, improved Net Promoter Score, and team expansion plans.
Challenges lie in lower loan growth expectations and increased operating expenses.
Opportunities include selling residential production, hiring deposit generators, and commercial growth.

Berkshire Hills Bancorp reports mixed Q3 results, eyes efficiency gains

Berkshire Hills Bancorp faced a short-term decline in operating net income and EPS but maintained stable deposits and saw growth in average loan balances.
The company highlighted improvements in asset quality metrics, discussed expense management, and emphasized risk management practices.
While challenges like branch closures and restructuring charges were mentioned, opportunities for cost savings and revenue growth through fee income enhancements were identified.
Overall, Berkshire Bank's strategic focus on technology upgrades and branch network optimization positions it for potential efficiency gains and sustained performance.

Berkshire Hills Bancorp focuses on growth amidst Q4 challenges

Berkshire Hills Bancorp's Q4 performance highlighted expense optimization and credit management priorities for 2024.
Despite challenges in operating EPS decline and expense management, the bank's strong balance sheet and strategic priorities position it for growth.
Opportunities in deposit capture, Boston market expansion, and wealth management underscore the bank's long-term growth strategy.

Berkshire Hills Bancorp posts solid Q1 results amidst strategic shifts

Berkshire Hills Bancorp's Q1 performance reflects solid financials, efficient cost management, and a strategic branch sale to enhance profitability.
Despite challenges from aggressive competitor pricing and balance sheet adjustments, the bank's focus on resilience and growth opportunities shines through.
Opportunities for increased buybacks, capital deployment post-transaction, and strategic investments position the bank for sustainable growth and value creation.

Berkshire Hills Bancorp reports robust Q2 performance and digital growth

Berkshire Hills Bancorp demonstrated strong financial performance in Q2 2024, marked by growth in EPS and net income, alongside effective cost management.
The bank's focus on capital strength, liquidity, and strategic initiatives positions it well to navigate challenges and capitalize on growth opportunities.
To sustain momentum, Berkshire Hills Bancorp must address challenges, seize growth opportunities, and stay agile in a dynamic banking environment.

Berkshire Hills Bancorp reports robust Q3 results and eyes growth

Berkshire Hills Bancorp (BHLB) showcased strong financial performance and asset quality in Q3 2024, underpinned by strategic initiatives and prudent risk management practices.
While facing challenges such as managing expenses and credit risk, the company remains focused on long-term profitability and enhancing shareholder value.
Opportunities lie in expanding digital deposit products, optimizing operational efficiency, and navigating market uncertainties to drive sustainable growth.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Berkshire Hills Bancorp, Inc. operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc. The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies. The company was founded in 1846 and is headquartered in Boston, MA.

BOSTON , Jan. 25, 2023 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Board of Directors has approved a share repurchase program pursuant to which the Company is authorized to repurchase shares of Company common stock at a total cost of up to $50 million through December 31, 2023. This would result in the repurchase of approximately 4% of outstanding shares based on the current share price.

BERKSHIRE HILLS ANNOUNCES $50 MILLION SHARE REPURCHASE PROGRAM

James "Jim" Brown Named Senior Executive Vice President, Head of Commercial Banking Philip Jurgeleit Named Executive Vice President, Chief Credit Officer BOSTON , Jan. 17, 2023 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a leading socially responsible community bank with financial centers located in New England and New York, today announced that James "Jim" Brown  and Philip Jurgeleit, two experienced commercial banking and credit executives have joined Berkshire in executive management roles. Mr. Brown joins Berkshire as SEVP, Head of Commercial Banking and Mr.

Berkshire Hills Bancorp Names New Executives

BOSTON , Jan. 6, 2023 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) will issue its fourth quarter earnings release before the market opens on Thursday, January 26, 2023. The Company will also place an investor presentation at its website at ir.berkshirebank.com.

Berkshire Hills Fourth Quarter Earnings Release and Conference Call Dates

NEW YORK--( BUSINESS WIRE )--KBRA releases its third-quarter 2022 U.S. Bank Compendium and 2023 Sector Outlook, providing the latest view of the U.S. banking industry, including KBRA's sector outlook, and analysis of 3Q22 results for U.S. banks with KBRA long-term ratings. In this edition, we discuss the resilience of our rated universe amid the intensified tightening cycle and competing tailwinds and headwinds. Despite an uncertain macro environment, we recognize banks as better positioned to withstand stressed conditions versus previous cycles, with stronger capital profiles, generally reduced asset and liability concentration risk, and higher loss buffers in place—all factors that underpin our Stable Outlook for the U.S. banking industry. The report also examines other key topics and trends relevant to the banking sector. In addition, the Compendium includes our quarterly environmental, social, and governance (ESG) Bulletin, which features Berkshire Hills Bancorp, Inc. (NYSE: BHLB; KBRA Senior BHC Rating: BBB/Stable Outlook).

KBRA Releases Third-Quarter 2022 U.S. Bank Compendium and 2023 Sector Outlook

BOSTON , Nov. 10, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) rang the bell to open trading on the New York Stock Exchange (NYSE) on Wednesday morning, November 9.  Berkshire is celebrating the tenth anniversary of its listing on the NYSE and more than 175 years of service that its subsidiary, Berkshire Bank, has provided to its markets, along with its accelerating momentum toward becoming a high-performing, leading socially responsible community bank in New England, Upstate New York, and beyond.

Berkshire Bank Team Rings NYSE Opening Bell

American Financial Group

Northern Oil and Gas

Service Corp

Snap-on

American Financial Group (AFG), Berkshire Hills Bancorp (BHLB), Snap-on (SNA), Northern Oil and Gas (NOG) and Service Corporation International (SCI) recently hiked dividends.

Buy These 5 Stocks That Recently Announced Dividend Hikes

BOSTON , Nov. 4, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Board of Directors has approved a quarterly cash dividend of $0.18 per common share to shareholders of record at the close of business on November 17, 2022, payable on December 1, 2022.  This is a 50% increase from the former quarterly dividend of $0.12 per share.

Berkshire Hills Announces 50% Increase in Quarterly Shareholder Dividend

Berkshire Hills Bancorp, Inc. (NYSE:BHLB ) Q3 2022 Earnings Conference Call October 20, 2022 10:00 AM ET Company Participants Kevin Conn - IR, Corporate Development Officer Nitin Mhatre - President, CEO Brett Brbovic - Chief Accounting Officer and Interim CFO Greg Lindenmuth - CRO Sean Gray - COO Conference Call Participants Billy Young - RBC Mark Fitzgibbon - Piper Sandler David Bishop - Hovde Group LLC Laurie Hunsicker - Compass Point Chris O'Connell - KBW Operator Hello everyone, and welcome to today's Berkshire Hills Bancorp Third Quarter 2022 Earnings Conference Call. My name is Nadia, and I will be coordinating the call today.

Berkshire Hills Bancorp, Inc. (BHLB) Q3 2022 Results - Earnings Call Transcript

Berkshire Hills (BHLB) delivered earnings and revenue surprises of 6.90% and 3.92%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Berkshire Hills Bancorp (BHLB) Beats Q3 Earnings and Revenue Estimates

BOSTON , Oct. 20, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today reported third quarter 2022 earnings per share ("EPS") totaling $0.42.  The non-GAAP measure of adjusted EPS totaled $0.62 for this period.

Berkshire Hills Reports Third Quarter Results

Here is how Berkshire Hills Bancorp (BHLB) and LPL Financial Holdings Inc. (LPLA) have performed compared to their sector so far this year.

Are Finance Stocks Lagging Berkshire Hills Bancorp (BHLB) This Year?

BOSTON , Oct. 13, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (the "Company", NYSE: BHLB) and Berkshire Bank (the "Bank") announced today that Subhadeep Basu, Chief Financial Officer of the Company and the Bank, has resigned effective October 7, 2022, for personal reasons and to subsequently pursue other career interests.  Mr. Basu has agreed to be available as an advisor to the Company to assist with transition matters through December 31, 2022.

Berkshire Hills Announces Executive Change

BOSTON , Oct. 6, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) will issue its third quarter earnings release before the market opens on Thursday, October 20, 2022. The Company will also place an investor presentation at its website at ir.berkshirebank.com.

Berkshire Hills Third Quarter Earnings Release and Conference Call Dates

Barkley, Rawls, and Tucker Bolster Berkshire's Commitment to Fueling Small Businesses BOSTON , Sept. 15, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a socially responsible community bank with financial centers in New England and New York, is excited to announce the addition of three seasoned lending professionals to its 44 Business Capital team.

Berkshire Hills Bancorp Continues Growth of 44 Business Capital Division with Three Seasoned SBA Lending Professionals

BOSTON , Sept. 12, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a leading socially responsible community bank with financial centers located in New England and New York, is excited to announce that Ashlee Flores, an experienced industry and Berkshire veteran was promoted to EVP, Chief Compliance Officer.

Berkshire Hills Bancorp Promotes Ashlee Flores to Executive Vice President, Chief Compliance Officer

Berkshire Hills (BHLB) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Berkshire Hills (BHLB) Upgraded to Strong Buy: Here's What You Should Know

Here is how Berkshire Hills Bancorp (BHLB) and City Holding (CHCO) have performed compared to their sector so far this year.

Is Berkshire Hills Bancorp (BHLB) Outperforming Other Finance Stocks This Year?

Does Berkshire Hills Bancorp (BHLB) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here's Why Berkshire Hills Bancorp (BHLB) is a Great Momentum Stock to Buy

Berkshire Hills Bancorp, Inc. boasts an impeccable comeback in revenues and margins. Its stellar balance sheet shows its strong positioning amidst a challenging market environment.

Berkshire Hills Bancorp Makes A Comeback But Still Needs A Pullback

Berkshire Hills Bancorp Inc. (NYSE:BHLB ) Q2 2022 Results Conference Call July 20, 2022 10:00 AM ET Company Participants Kevin Conn - IR, Corporate Development Officer Nitin Mhatre - President, CEO Subhadeep Basu - CFO Greg Lindenmuth - CRO Conference Call Participants Mark Fitzgibbon - Piper Sandler Bill Young - RBC Chris O'Connell - KBW Laurie Hunsicker - Compass Point Operator Hello, and welcome to today's Berkshire Hills Bancorp Second Quarter 2022 Earnings Conference Call. My name is Elliot, and I will be coordinating your call today.

Berkshire Hills Bancorp Inc. (BHLB) CEO Nitin Mhatre on Q2 2022 Results - Earnings Call Transcript

Berkshire Hills (BHLB) delivered earnings and revenue surprises of 10.87% and 1.52%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Berkshire Hills Bancorp (BHLB) Surpasses Q2 Earnings and Revenue Estimates

BOSTON , July 20, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today reported that second quarter 2022 earnings per share (EPS) increased by 19% to $0.50 from $0.42 in the prior quarter. The non-GAAP measure of adjusted EPS also increased by 19% to $0.51 from $0.43.

Berkshire Hills Reports 19% Increase in Quarterly Earnings Per Share

Assigns Positive Rating Outlook BOSTON , July 13, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. ("Berkshire Hills" or the "Company") (NYSE: BHLB), the parent company of Berkshire Bank (the "Bank"), announced that Moody's Investors Service ("Moody's"), in a Rating Action report dated June 21, 2022, assigned first time ratings to Berkshire Hills and the Bank. Moody's assigned the Bank a Long-Term Deposit Rating of "A3".

Moody's Assigns First-Time "A3" Deposit Rating to Berkshire Bank

BOSTON , July 6, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) will issue its second quarter earnings release before the market opens on Wednesday, July 20, 2022. The Company will also place an investor presentation at its website at ir.berkshirebank.com.

Berkshire Hills Second Quarter Earnings Release and Conference Call Dates

First U.S. Community Bank Holding Company to Issue a Bond Dedicated to Supporting Social & Environmental Projects BOSTON , June 30, 2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) ("Berkshire" or the "Company") announced today the completion of the public offering and sale of its inaugural Sustainability Bond, offering $100.0 million of its 5.50% fixed-to-floating rate subordinated notes due 2032 (the "Notes"). The Notes were sold at par, resulting in $98.3 million in net proceeds, after underwriting discount and estimated offering expenses.

News for Berkshire Hills Bancorp Stock (BHLB)