Berkshire Hills Bancorp Inc Stock Price, News & Analysis

Berkshire Hills Bancorp, Inc. (NYSE: BHLB) announced that CEO Nitin Mhatre will discuss the company’s Digital Banking Transformation at the KBW Winter Financial Services Symposium on February 17, 2022. He will be joined by Narmi Co-Founder Nikhil Lakhanpal and KBW's Mike Perito to explore lessons learned from Berkshire's strategic digital evolution, aimed at enhancing customer satisfaction through a blend of traditional banking expertise and fintech partnerships. With $11.6 billion in assets and 106 branches across New England and New York, Berkshire Bank continues its commitment to socially responsible banking.

Berkshire Hills Bancorp (NYSE: BHLB) announced a quarterly cash dividend of $0.12 per common share. Shareholders of record as of February 10, 2022 will receive this dividend on February 24, 2022. Berkshire Hills Bancorp, headquartered in Boston, has approximately $11.6 billion in assets and operates 106 branches across New England and New York, emphasizing its role as a socially responsible community bank. The announcement reflects the company's commitment to returning value to shareholders.

Berkshire Hills Bancorp (NYSE: BHLB) reported significant growth for Q4 2021, with earnings per share (EPS) soaring 40% year-over-year to $0.42. Full-year EPS stood at $2.39, a turnaround from a loss of ($10.60) in 2020. Key highlights include a 4% rise in non-interest income and a 45% reduction in non-performing assets. The bank's strategic initiatives under the BEST plan are set to enhance stakeholder value. Additionally, a $140 million share repurchase has been authorized, reflecting confidence in the company's robust liquidity and capital position.

Berkshire Hills Bancorp (NYSE: BHLB) has announced a share repurchase program approved by its Board of Directors, allowing the company to buy back up to $140 million of its common stock by December 31, 2022. This move could lead to the repurchase of approximately 9% of outstanding shares based on current prices. The company aims to return excess capital to shareholders while supporting its strategic transformation and operating plans aimed at improving market share. This follows a 5% repurchase in 2021.

Berkshire Hills Bancorp (NYSE: BHLB) will release its fourth quarter earnings on January 20, 2022, before market opening. Alongside the earnings report, an investor presentation will be available on its website. A conference call/webcast to discuss the results and future guidance is scheduled for 10:00 a.m. ET on the same day. Participants can pre-register for the call online to receive dial-in instructions. Berkshire operates with approximately $11.8 billion in assets and 106 branches in New England and New York.

Berkshire Hills Bancorp (NYSE: BHLB) has elected Nina A. Charnley to its Board of Directors, effective December 16, 2021. Charnley brings over three decades of experience in financial services and digital transformation, previously serving as Senior Managing Director at TIAA. Her appointment aims to bolster the Board’s governance, particularly in support of the Berkshire's Exciting Strategic Transformation plan. She will serve on key committees focused on Compensation, Compliance & Regulatory and Corporate Responsibility & Culture.

Berkshire Hills Bancorp (NYSE: BHLB) announced the launch of its new Socially Responsible Investment (SRI) Portfolios through Berkshire Wealth Management. These portfolios focus on aligning investments with positive environmental and social outcomes, catering to diverse clients without requiring minimum asset thresholds. The initiative aims to enhance the bank's commitment to ESG factors while responding to growing interest in sustainable investments, which saw a 42% rise in global assets from 2018 to 2020. This aligns with Berkshire's vision of being a leading socially responsible community bank.

Berkshire Hills Bancorp, Inc. (NYSE: BHLB) announced a quarterly cash dividend of $0.12 per common share for shareholders of record at the close of business on November 11, 2021. This dividend is payable on November 24, 2021. The decision reflects the company's ongoing commitment to return value to its shareholders. Berkshire Hills Bancorp operates approximately $11.8 billion in assets and is focused on being a socially responsible community bank.

Berkshire Hills Bancorp (BHLB) reported Q3 2021 earnings per share (EPS) of $1.31, a 212% increase from $0.42 in Q3 2020, primarily due to a $52 million net gain from the sale of insurance and specific branch operations. Adjusted EPS remained stable at $0.53. The bank also noted a $4 million benefit to credit loss provisions. Total assets decreased by 3% to $11.8 billion, with loans down 5% to $6.84 billion. The net interest income dropped by 7% year-over-year, and non-interest expenses fell by 5% to $69.5 million, while total deposits rose by 5% to $10.4 billion.