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Berkshire Hills Bancorp, Inc. - BHLB STOCK NEWS

Welcome to our dedicated page for Berkshire Hills Bancorp news (Ticker: BHLB), a resource for investors and traders seeking the latest updates and insights on Berkshire Hills Bancorp stock.

Berkshire Hills Bancorp, Inc. (NYSE: BHLB) is the parent company of Berkshire Bank, known as 'America's Most Exciting Bank®'. With approximately $12.4 billion in assets, Berkshire Bank operates 96 financial centers across New England and New York. Headquartered in Boston, the bank provides a comprehensive suite of financial services, including Commercial Banking, Retail Banking, Consumer Lending, Private Banking, and Wealth Management.

Founded over 175 years ago, Berkshire Bank has established itself as a relationship-driven, community-focused institution, delivering financial expertise to both personal and business clients. In recent years, the bank has continued to enhance its operational efficiency and customer service. For instance, Berkshire recently announced the planned sale of ten branches in upstate and eastern New York to streamline its footprint and invest further in core areas.

In terms of financial performance, Berkshire Hills Bancorp has shown resilience despite industry challenges. For the fourth quarter of 2023, the bank reported an operating earnings of $20.2 million, achieving a steady full year net interest margin of 3.27%. The company also authorized a $40 million share repurchase program, aiming to balance capital return and growth.

Berkshire Bank is recognized for its commitment to corporate responsibility and sustainability. It has been named one of America's Most Trustworthy Companies and one of America's Best Regional Banks by Newsweek. The bank's strategic efforts are led by CEO Nitin Mhatre, who emphasizes balance sheet strength, credit performance, and operational discipline as key pillars for sustainable growth.

Financial highlights and other updates, such as earnings releases and conference calls, are regularly communicated to investors. Most recently, the bank announced its earnings for the first quarter of 2024, showing operational earnings growth and continued strong asset quality.

For more information on Berkshire Hills Bancorp, including investor relations and latest news, visit their website.

News

Berkshire Hills Reports First Quarter 2024 Results

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Berkshire Hills Bancorp, Inc. (NYSE: BHLB) reported first quarter 2024 results with a net loss of $20 million, operating income of $21 million, and a securities sale of $362 million resulting in a net non-operating loss of $49.9 million. The TCE ratio was 8.2% and CET1 ratio was 11.6%. The company announced the planned sale of ten branches to enhance efficiency and profitability.
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Berkshire Hills Announces First Quarter 2024 Earnings Release and Conference Call Schedule

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Berkshire Hills Bancorp, Inc. (BHLB) announces its first quarter 2024 earnings release and conference call on April 18, 2024. The earnings release is set for 7:30 a.m. (Eastern), followed by the conference call at 9:00 a.m. (Eastern). Investors can access the webcast and dial-in numbers for the call. Presentation materials will be available on the company's website.
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Berkshire Hills Bancorp Bolsters Commercial & Private Banking Franchise

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Berkshire Hills Bancorp, Inc. welcomes Torrance Childs, former President of Private Banking at Boston Private, as Chief Commercial Deposit Officer to enhance client growth and experience. The company plans to relocate a financial center to improve services, aiming to open a new office in early 2025.
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Berkshire Hills Announces Quarterly Shareholder Dividend

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Berkshire Hills Bancorp, Inc. (BHLB) declares a quarterly cash dividend of $0.18 per common share, reinforcing shareholder value.
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Arrow Announces Acquisition of Whitehall, N.Y. Branch

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Arrow Financial Corporation announces the acquisition of a branch office in Whitehall, New York, from Berkshire Bank, aiming to expand market presence and enhance shareholder value. The sale includes deposit accounts with an approximate balance of $39 million and loans with an approximate balance of $3 million, set to be completed by the end of the third quarter of 2024.
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Berkshire Hills Bancorp to Sell Select Upstate and Eastern New York Branches

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Berkshire Hills Bancorp, Inc. (BHLB) announces the sale of 10 branches in upstate and eastern New York to three buyers, reducing its overall branch footprint. The sales include deposits, loans, and equipment, aiming to enhance efficiency and profitability. The transactions are expected to be completed by the end of the third quarter of 2024. The CEO emphasizes the focus on core New York markets and long-term profitability, while the CFO highlights cost reduction and improved efficiency.
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Berkshire Hills Announces Annual Meeting Date

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Berkshire Hills Bancorp, Inc. (BHLB) has scheduled its Annual Meeting of Shareholders on May 16, 2024, with March 21, 2024, as the record date. The meeting will cover director election, executive compensation, and auditor engagement.
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Berkshire Hills Reports Fourth Quarter 2023 Results

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Berkshire Hills Bancorp, Inc. (NYSE: BHLB) announced a $40 million share repurchase authorization. The fourth quarter resulted in a $1 million loss, with operating income of $20 million. A $267 million securities sale resulted in a $25.1 million pre-tax non-operating loss. Net loan charge-offs and non-performing assets decreased by 18% linked quarter. The TCE ratio was 8.0% and CET1 ratio was 12.0%. Tangible book value per share was $22.82, up $1.57, or 7%, in the quarter.
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Berkshire Hills Announces Fourth Quarter 2023 Earnings Release and Conference Call Schedule

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Berkshire Hills Bancorp, Inc. (NYSE: BHLB) has announced the schedule for its fourth quarter 2023 earnings release and conference call. The earnings release is set for January 25, 2024, at 7:30 a.m. (Eastern), followed by the conference call at 9:00 a.m. (Eastern). Investors can register for the listen-only webcast and access the replay through the provided links. Investor presentation materials will be available before the call. Participants are advised to join the webcast or call in a few minutes early.
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Berkshire Hills Bancorp Leadership Featured On New York Stock Exchange

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Berkshire Hills Bancorp, the parent company of Berkshire Bank (NYSE: BHLB), was recently featured in a series of New York Stock Exchange (NYSE) interviews. CEO Nitin Mhatre shared his leadership values, vision for the future, and the bank's commitment to its clients and community. The interviews are available for viewing at berkshirebank.com/NYSEMedia.
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FAQ

What is the current stock price of Berkshire Hills Bancorp (BHLB)?

The current stock price of Berkshire Hills Bancorp (BHLB) is $31.22 as of November 22, 2024.

What is the market cap of Berkshire Hills Bancorp (BHLB)?

The market cap of Berkshire Hills Bancorp (BHLB) is approximately 1.3B.

What services does Berkshire Hills Bancorp offer?

Berkshire Hills Bancorp, through its subsidiary Berkshire Bank, offers Commercial Banking, Retail Banking, Consumer Lending, Private Banking, and Wealth Management services.

Where is Berkshire Hills Bancorp headquartered?

Berkshire Hills Bancorp is headquartered in Boston, Massachusetts.

How many branches does Berkshire Bank operate?

Berkshire Bank operates 96 financial centers across New England and New York.

What recent changes has Berkshire Hills Bancorp announced?

Recently, Berkshire Hills Bancorp announced the planned sale of ten branches in upstate and eastern New York to three buyers, aiming to streamline its footprint and enhance profitability.

Who is the CEO of Berkshire Hills Bancorp?

Nitin Mhatre is the CEO of Berkshire Hills Bancorp.

What are the latest financial highlights of Berkshire Hills Bancorp?

For the first quarter of 2024, Berkshire Hills Bancorp reported operating earnings of $20.9 million, with a net interest margin of 3.15% and a healthy common equity Tier 1 ratio of 11.6%.

How does Berkshire Hills Bancorp contribute to corporate responsibility?

Berkshire Hills Bancorp is committed to corporate responsibility and sustainability, recognized as one of America's Most Trustworthy Companies and one of the Best Regional Banks by Newsweek.

What is the market symbol for Berkshire Hills Bancorp?

The market symbol for Berkshire Hills Bancorp is NYSE: BHLB.

How can investors get in touch with Berkshire Hills Bancorp?

Investors can contact Berkshire Hills Bancorp's Investor Relations at 617-641-9206 or via email at KAConn@berkshirebank.com.

What recent strategic initiatives has Berkshire Hills Bancorp undertaken?

Berkshire Hills Bancorp has undertaken branch sales and securities sales to improve efficiency, profitability, and focus on core markets. They also authorized a $40 million share repurchase program.

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Berkshire Hills Bancorp, Inc.

NYSE:BHLB

BHLB Rankings

#2327 Ranked by Market Cap
#1258 Ranked by Dividends

BHLB Stock Data

1.33B
42.52M
1.04%
85.78%
2.16%
Banks - Regional
Savings Institutions, Not Federally Chartered
Link
United States of America
BOSTON