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Last $27.58 USD
Change Today -0.24 / -0.86%
Volume 140.5K
As of 4:15 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

berkshire hills bancorp inc (BHLB) Snapshot

Open
$28.07
Previous Close
$27.82
Day High
$28.07
Day Low
$27.51
52 Week High
04/28/15 - $29.30
52 Week Low
06/2/14 - $22.25
Market Cap
814.1M
Average Volume 10 Days
92.0K
EPS TTM
$1.96
Shares Outstanding
29.5M
EX-Date
05/12/15
P/E TM
14.1x
Dividend
$0.76
Dividend Yield
2.68%
Current Stock Chart for BERKSHIRE HILLS BANCORP INC (BHLB)

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berkshire hills bancorp inc (BHLB) Details

Berkshire Hills Bancorp, Inc. provides retail and commercial banking, wealth management and investment, and insurance services. The company operates through two segments, Banking and Insurance. It offers various deposit accounts, including interest-bearing and noninterest-bearing checking demand, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as residential mortgages, commercial real estate, commercial and industrial, and consumer loans. The company also provides wealth management services comprising investment management, trust administration, and estate planning; and investment products, financial planning, and brokerage services. In addition, it offers personal and commercial property, and casualty insurance; employee benefits insurance; and life, health, and financial services insurance products. Further, the company provides retail and commercial electronic banking, commercial cash management, and commercial interest rate swaps; and debit cards and other electronic fee producing payment services to transaction account customers. It serves retail, commercial, not-for-profit, and municipal customers. The company operates 91 full-service banking offices in Massachusetts, New York, Connecticut, and Vermont; and commercial and retail lending offices located in eastern Massachusetts. Berkshire Hills Bancorp, Inc. was founded in 1846 and is headquartered in Pittsfield, Massachusetts.

1,091 Employees
Last Reported Date: 05/11/15
Founded in 1846

berkshire hills bancorp inc (BHLB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $627.9K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $313.5K
Chief Risk & Administrative Officer, Executiv...
Total Annual Compensation: $398.1K
Executive Vice President of Retail Banking an...
Total Annual Compensation: $374.0K
Executive Vice President and Head of Commerci...
Total Annual Compensation: $325.0K
Compensation as of Fiscal Year 2014.

berkshire hills bancorp inc (BHLB) Key Developments

Berkshire Hills Bancorp Inc. and Berkshire Bank Announce Management and Board Changes

On April 23, 2015, John W. Altmeyer retired from the Boards of Directors of Berkshire Hills Bancorp Inc. and Berkshire Bank. On April 23, 2015, Glenn S. Welch, age 52, was confirmed by the company and the Bank as Executive Vice President. Mr. Welch previously served as President and Chief Executive Officer of Hampden Bancorp Inc. and Hampden Bank, which were acquired by the Company and the Bank on April 17, 2015. Mr. Welch served as an executive officer of Hampden Bancorp Inc. and Hampden Bank in multiple capacities beginning with his initial employment by Hampden Bank in 2001, culminating in his appointment as President and Chief Executive Officer in 2013. On April 23, 2015, Thomas R. Burton and Richard D. Suski were each appointed to the Boards of Directors of the company and the Bank. Mr. Burton is a former member of Hampden Bancorp Inc.'s Board of Directors. Mr. Burton served as the Chief Executive Officer of Hampden Bancorp and Hampden Bank from 1994 until his retirement in December 2012 and as the President of Hampden Bancorp and Hampden Bank from 1994 to 2011. Mr. Burton has been appointed to the Audit Committee and Compliance/Regulatory Committee of the Board of Directors of the company. Mr. Burton fills the vacancy created by the retirement of Mr. Altmeyer from the Board of Directors. Mr. Suski is a retired principal of RDS Associates, a position he held from 1991 through 2005. Prior to his work with RDS Associates, Mr. Suski was Partner-in-Charge of Financial Institutions of the Hartford, Connecticut office of KPMG LLP.

Berkshire Hills Bancorp Inc. Declares Dividend, Payable on May 28, 2015

Berkshire Hills Bancorp Inc. announced that its Board of Directors declared a cash dividend of $0.19 per share to shareholders of record at the close of business on May 14, 2015, payable on May 28, 2015.

Berkshire Hills Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Records Net Charge Offs

Berkshire Hills Bancorp Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported net interest income of $45,493,000, total net revenue of $58,055,000, income before income taxes of $9,056,000, net income of $8,759,000 or $0.35 per diluted share against net interest income of $42,766,000, total net revenue of $47,189,000, loss before income taxes of $1,567,000, net loss of $1,106,000 or $0.04 per diluted share a year ago. Core return on assets was 0.76% against 0.71% a year ago. Core return on equity was 7.06% against 6.02% a year ago. Tangible book value per share was $17.46 against $15.84 a year ago. Profit growth has been due to higher revenues from continued business momentum.   First quarter core EPS increased by 4% from $0.48 in the fourth quarter of 2014. Earnings in both periods were impacted by non-core charges related primarily to growth and restructuring, including charges related to the acquisition of Hampden Bancorp, which was completed on April 17, 2015. Total net charge offs for the first quarter were $3,227,000 against $3,117,000 a year ago.

 

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BHLB Competitors

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Industry Analysis

BHLB

Industry Average

Valuation BHLB Industry Range
Price/Earnings 16.0x
Price/Sales 3.1x
Price/Book 1.0x
Price/Cash Flow 18.9x
TEV/Sales NM Not Meaningful
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