Berkshire Hills Bancorp, Inc.
Description
Berkshire Hills Bancorp, Inc. operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts. It offers loans, such as commercial real estate, commercial and industrial, residential mortgage, and consumer loans. In addition, the company provides wealth management services comprising investment management, trust administration, tax return preparation, and financial planning; and investment products and brokerage services. Further, it offers commercial cash management, online banking and mobile banking, small business banking, and asset based lending services; and debit cards and other electronic fee producing payment services to transaction account customers. It serves its products to personal, commercial, non-profit, and municipal deposit customers. Berkshire Hills Bancorp, Inc. was founded in 1846 and is headquartered in Boston, Massachusetts.
About
CEO
Mr. Nitin J. Mhatre
Employees
1,310
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNYS
Address
60 State Street, Boston, MA 02109, United States
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![Enlarged Chart]()
Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 22, 2025 | — | — | — | — |
| Jul 16, 2025 | — | — | — | — |
| Apr 16, 2025 | — | — | — | — |
| Jan 30, 2025 | 0.54 | 0.60 | 0.06 | 11.11% |
| Oct 24, 2024 | 0.55 | 0.58 | 0.03 | 5.45% |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Dec 2025)
|
Next Year
(Dec 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 4 | 4 | 5 | 5 |
| Average estimate | 0.54 | 0.58 | 2.47 | 3.51 |
| Low estimate | 0.52 | 0.56 | 2.35 | 2.68 |
| High estimate | 0.56 | 0.59 | 2.57 | 3.85 |
| Last year EPS | 0.49 | 0.55 | 2.22 | 2.47 |
[stock_revenue_estimate]
Growth estimates
Current qtr (Mar 2025)
7.480%
Next qtr. (Jun 2025)
1.510%
Current year (Dec 2025)
14.640%
Next year (Dec 2026)
46.170%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 411.83M | 413.53M | 381.47M | 381.85M | 447.91M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 171.68M | 160.95M | 157.10M | 157.42M | 175.76M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 78.32M | 113.82M | 149.02M | -533.03M | 123.98M |
| Tax provision | 8.72M | 21.29M | 30.36M | -19.85M | 22.46M |
| Net income | 69.60M | 92.53M | 118.66M | -533.02M | 97.45M |
| Basic EPS | 1.61 | 2.03 | 2.41 | -10.60 | 1.98 |
| Diluted EPS | 1.60 | 2.02 | 2.39 | -10.60 | 1.97 |
| Basic average shares | 43.29M | 45.56M | 49.24M | 50.27M | 49.26M |
| Diluted average shares | 43.29M | 45.56M | 49.24M | 50.27M | 49.26M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 69.60M | 92.53M | 118.66M | -513.18M | 101.52M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 148.15M | 145.34M | 109.35M | 91.22M | 105.45M |
| Cash equivalents | 1.06B | 540.01M | 1.52B | 1.47B | 474.38M |
| Cash and cash equivalents | 1.20B | 685.36M | 1.63B | 1.56B | 579.83M |
| Other short term investments | 1.02B | 1.42B | 1.88B | 1.70B | 1.31B |
| Accounts receivable | 53.10M | 46.87M | 33.53M | 46.92M | 36.46M |
| Other receivables | 33.56M | 34.39M | 30.61M | 40.75M | 23.79M |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | 47.35M | 46.41M | 52.18M | 60.02M | 75.26M |
| Land and improvements | 12.53M | 15.54M | 15.79M | 17.72M | 17.82M |
| Machinery furniture equipment | 64.29M | 63.55M | 62.42M | 63.59M | 64.04M |
| Construction in progress | 327,000 | 1.15M | 703,000 | 4.04M | 1.58M |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -97.45M | -95.00M | -88.85M | -86.53M | -78.97M |
| Goodwill | 31.76M | 37.53M | 45.64M | 51.17M | 1.18B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 31.76M | 37.53M | 45.64M | 51.17M | 72.07M |
| Investments and advances | 1.58B | 2.03B | 2.54B | 2.19B | 1.72B |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | 13.77M | 1.61M | 775,000 | 3.87M | 11.63M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | 260.00M | — | — | 40.00M | 125.00M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 308.29M | 188.55M | 176.38M | 605.91M | 794.17M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | 75.96M | 97.03M | 35.19M | 65.76M | 80.68M |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 528,000 | 528,000 | 528,000 | 528,000 | 517,000 |
| Retained earnings | -33.14M | -71.43M | -139.38M | -233.34M | 361.08M |
| Other shareholders equity | -143.02M | -181.05M | -3.24M | 30.87M | 11.99M |
| Total shareholders equity | 1.01B | 954.06M | 1.18B | 1.19B | 1.76B |
| Additional paid in capital | 1.42B | 1.42B | 1.42B | 1.43B | 1.42B |
| Treasury stock | 225.32M | 209.57M | 89.86M | 31.28M | 69.64M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||
| Net Income | 69.60M | 92.53M | 118.66M | -513.18M | 101.52M | 109.22M | 49.12M | 58.67M | 49.52M | 33.74M | 41.14M | 33.19M | 17.35M | 13.86M | -16.07M | 22.24M | 13.54M | 10.89M | 8.23M | 11.94M | 8.97M | 1.77M | 8.91M | 4.58M | 5.62M |
| Depreciation | 13.27M | 14.71M | 16.24M | 18.10M | 16.70M | 15.38M | 12.99M | 11.32M | 12.16M | 13.10M | 12.39M | 11.38M | 9.25M | 6.84M | 7.14M | 7.67M | 6.46M | 4.87M | 5.07M | 3.78M | 4.11M | 4.17M | 3.18M | 2.42M | 2.81M |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — | — | — | -4.53M | -5.17M | 905,000 | 986,000 | -1.76M | 1.69M | 1.52M | 1.09M | -431,000 | 608,000 | -2.79M | -319,000 |
| Stock-Based Compensation | 7.50M | 7.34M | 4.17M | 4.73M | 4.81M | 4.76M | 5.10M | 4.62M | 4.69M | 3.84M | 2.96M | 2.26M | 1.45M | 1.60M | 1.41M | 1.64M | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 4.75M | 4.81M | -4.83M | 5.52M | -6.08M | -25.16M | 17.51M | -3.35M | -5.98M | -13.99M | 37.35M | -48.70M | -7.59M | 64,000 | -13,000 | 1.32M | -93,000 | 7.89M | 10.54M | 2.93M | 3.21M | 20.79M | 8.46M | 9.43M | 605,000 |
| Accounts Receivable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -10.05M | 2.81M | — | — | — | — | — | — | — | — | — |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 14.39M | -12.08M | 18.28M | -31.25M | -23.60M | 30.60M | 13.84M | 3.31M | 4.46M | -1.80M | 22.40M | 19.60M | 11.01M | 5.74M | -20.83M | -2.19M | — | — | — | — | — | — | — | — | — |
| Operating Cash Flow | 109.50M | 107.32M | 152.52M | -516.08M | 93.35M | 134.80M | 98.56M | 74.57M | 64.84M | 34.90M | 116.24M | 17.74M | 31.47M | 23.58M | -43.58M | 34.38M | 20.89M | 21.89M | 25.52M | 20.17M | 17.37M | 26.30M | 21.16M | 13.65M | 8.72M |
| Investing Activities | |||||||||||||||||||||||||
| Capital Expenditures | -1.82M | -1.50M | -1.61M | -7.21M | -10.57M | -9.35M | -11.26M | -8.88M | -5.08M | -6.14M | -13.10M | -18.63M | -7.27M | -5.02M | -3.53M | -2.48M | -5.57M | -6.10M | -4.13M | -4.66M | -1.47M | -1.47M | -2.34M | -2.53M | -3.74M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | -352.81M | — | 110.77M | — | 374.61M | -48.18M | 62.61M | 423.42M | — | -111.33M | 179.31M | — | — | -1.09M | -8.05M | -22.54M | -26.64M | -1.42M | — | — | -4.70M | — | — |
| Purchase of Investments | -61.46M | -494.28M | -1.03B | -1.05B | -155.16M | -297.48M | -575.85M | -407.17M | -347.91M | -578.73M | -446.79M | -146.15M | -214.63M | -138.94M | -193.85M | -115.48M | -60.15M | -66.53M | -69.37M | -152.68M | -356.74M | -258.48M | -94.44M | -126.42M | -52.40M |
| Sale of Investments | 508.88M | 751.20M | 625.26M | 596.92M | 442.19M | 264.09M | 408.80M | 596.91M | 235.03M | 280.03M | 142.64M | 219.07M | 140.55M | 143.88M | 94.21M | 65.43M | 105.14M | 252.47M | 237.87M | 136.20M | 239.69M | 172.09M | 85.40M | 106.73M | 56.32M |
| Investing Cash Flow | 432.13M | 261.31M | -729.30M | -451.17M | 427.09M | -54.54M | 191.80M | 134.37M | -61.30M | 117.93M | -334.16M | -94.75M | 15.67M | -80,000 | -106.69M | -71.09M | 9.30M | -122.16M | 77.91M | -106.67M | -214.68M | -30.08M | -29.17M | -150.86M | -66.60M |
| Financing Activities | |||||||||||||||||||||||||
| Long-Term Debt Issuance | 10.45B | 149.31M | — | 326.28M | 5.38B | 4.77B | 5.98B | 9.36B | 8.57B | 5.43B | 1.49B | 559.76M | 125.48M | 259.54M | 208.86M | 145.00M | 185.21M | 272.01M | 905.12M | 675.50M | 252.00M | -121.13M | 152.00M | 147.74M | 40.00M |
| Long-Term Debt Payments | -10.07B | -135.20M | -462.06M | -582.65M | -6.23B | -4.39B | -6.17B | -9.37B | -8.62B | -5.44B | -872.16M | -465.97M | -296.25M | -305.90M | -276.81M | -120.32M | -231.13M | -324.46M | -1.06B | -599.51M | -133.54M | 121.37M | -127.16M | -97.54M | -13.66M |
| Other Financing Charges | 13.85M | 84.04M | 51.91M | -97.61M | — | — | -1.70M | — | 167,000 | 102,000 | 1.45M | 1.13M | 68,000 | -94,000 | -1.04M | -73,000 | 676,000 | 1.26M | 279,000 | — | -728,000 | — | — | — | 160,000 |
| Financing Cash Flow | 339.08M | -50.89M | -503.42M | -391.02M | -941.65M | 339.66M | -78.38M | -25.48M | -76.05M | -32.22M | 587.10M | 82.33M | -182.36M | -54.45M | -85.48M | 94.92M | -50.64M | -56.02M | -161.56M | 73.37M | 114.41M | -3.69M | 21.89M | 50.40M | 23.62M |
| Other Cash Details | |||||||||||||||||||||||||
| End Cash Position | 1.20B | 685.36M | 1.63B | 1.56B | 579.83M | 183.19M | 248.76M | 113.08M | 103.56M | 71.75M | 75.54M | 98.24M | 75.78M | 44.14M | 32.61M | 44.80M | 41.14M | 30.99M | 31.09M | 17.90M | 17.44M | 60.66M | 42.12M | 43.61M | 24.64M |
| Income Tax Paid | 12.31M | 28.44M | 14.82M | — | 19.82M | 3.03M | 18.32M | 16.23M | 429,000 | 746,000 | -3.73M | 8.87M | -164,000 | 3.45M | 1.97M | 6.04M | — | — | — | — | — | — | — | — | — |
| Interest Paid | 194.90M | 41.83M | 40.99M | 103.60M | 153.10M | 106.84M | 64.47M | 45.45M | 32.10M | 28.43M | 35.02M | 32.30M | 32.04M | 34.92M | 46.30M | 56.99M | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 155.34M | 109.24M | 83.18M | 220.43M | 100.96M | 212.91M | 66.84M | 89.04M | 78.95M | 47.37M | 114.31M | 9.76M | 32.18M | 35.67M | 10.08M | 39.44M | 17.86M | 18.93M | 15.57M | 14.96M | 13.62M | 18.07M | 17.55M | -314,000 | 3.72M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| iShares Core S&P Smallcap ETF | Nov 30, 2024 | 2,657,628 | 79.91M | 6.18% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 1,375,729 | 41.37M | 3.20% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 1,077,556 | 32.40M | 2.51% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 955,989 | 28.75M | 2.22% |
| Vanguard Small Cap Value Index Fund | Sep 30, 2024 | 728,387 | 21.90M | 1.69% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 669,722 | 20.14M | 1.56% |
| Capitol Ser Tr-Fuller & Thaler Behavioral Small Cap Equity Fd | Sep 30, 2024 | 656,769 | 19.75M | 1.53% |
| DFA U.S. Small Cap Value Series | Oct 31, 2024 | 634,437 | 19.08M | 1.48% |
| Avantis U.S. Small Cap Value ETF | Nov 30, 2024 | 490,263 | 14.74M | 1.14% |
| SPDR (R) Ser Tr-S&P Regional Banking ETF | Nov 30, 2024 | 455,966 | 13.71M | 1.06% |
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Berkshire Hills Bancorp, Inc. (BHLB) Q4 2024 Earnings Call Transcript
Berkshire Hills Bancorp, Inc. (NYSE:BHLB ) Q4 2024 Results Conference Call January 30, 2025 9:00 AM ET Company Participants Kevin Conn - Investor Relations Nitin Mhatre - Chief Executive Officer Sean Gray - Chief Operating Officer Brett Brbovic - Chief Financial Officer Greg Lindenmuth - Chief Risk Officer Conference Call Participants David Bishop - Hovde Group Billy Young - RBC Chris O'Connell - KBW Laurie Hunsicker - Seaport Research Partners Mark Fitzgibbon - Piper Sandler Operator Good morning, ladies and gentlemen, and welcome to the Berkshire Hills Bancorp Fourth Quarter 2024 Earnings Conference Call. At this time, all lines are in listen-only mode.
Jan 30, 2025
