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Berkshire Hills Bancorp

NYSE:BHLB
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BHLB
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Berkshire Hills Bancorp, Inc. operates as a bank holding company for Berkshire Bank that provides various banking products and services. The last earnings update was 46 days ago. More info.


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BHLB Share Price and Events
7 Day Returns
3.7%
NYSE:BHLB
0.9%
US Banks
0.4%
US Market
1 Year Returns
-22.4%
NYSE:BHLB
-5.2%
US Banks
6.8%
US Market
BHLB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Berkshire Hills Bancorp (BHLB) 3.7% -3.4% 2.6% -22.4% 5.9% 17.3%
US Banks 0.9% -0.8% 6.4% -5.2% 45.9% 47%
US Market 0.4% 2.6% 11% 6.8% 38.1% 45.7%
1 Year Return vs Industry and Market
  • BHLB underperformed the Banks industry which returned -5.2% over the past year.
  • BHLB underperformed the Market in United States of America which returned 6.8% over the past year.
Price Volatility
BHLB
Industry
5yr Volatility vs Market

BHLB Value

 Is Berkshire Hills Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Berkshire Hills Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Berkshire Hills Bancorp.

NYSE:BHLB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $35.64 * 4.9%
$1.76
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $35.64
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BHLB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.625 (1 + (1- 21%) (116.26%))
1.133
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.133 * 5.96%)
9.48%

Discounted Cash Flow Calculation for NYSE:BHLB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Berkshire Hills Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:BHLB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.9% – 9.48%) * $35.64)
$-1.62
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-1.62 / (9.48% - 2.73%)
$-23.97
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $35.64 + $-23.97
$11.67
NYSE:BHLB Discount to Share Price
Calculation Result
Value per share (USD) From above. $11.67
Current discount Discount to share price of $29.53
= -1 x ($29.53 - $11.67) / $11.67
-153.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Berkshire Hills Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Berkshire Hills Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Berkshire Hills Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BHLB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.28
NYSE:BHLB Share Price ** NYSE (2019-04-16) in USD $29.53
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 12.96x
United States of America Market PE Ratio Median Figure of 3,072 Publicly-Listed Companies 18.08x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Berkshire Hills Bancorp.

NYSE:BHLB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BHLB Share Price ÷ EPS (both in USD)

= 29.53 ÷ 2.28

12.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Berkshire Hills Bancorp is overvalued based on earnings compared to the US Banks industry average.
  • Berkshire Hills Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Berkshire Hills Bancorp's expected growth come at a high price?
Raw Data
NYSE:BHLB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
16.7%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.26x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:BHLB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.96x ÷ 16.7%

0.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Berkshire Hills Bancorp is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Berkshire Hills Bancorp's assets?
Raw Data
NYSE:BHLB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $33.57
NYSE:BHLB Share Price * NYSE (2019-04-16) in USD $29.53
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.23x
United States of America Market PB Ratio Median Figure of 5,176 Publicly-Listed Companies 1.91x
NYSE:BHLB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BHLB Share Price ÷ Book Value per Share (both in USD)

= 29.53 ÷ 33.57

0.88x

* Primary Listing of Berkshire Hills Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Berkshire Hills Bancorp is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Berkshire Hills Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Berkshire Hills Bancorp has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BHLB Future Performance

 How is Berkshire Hills Bancorp expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Berkshire Hills Bancorp expected to grow at an attractive rate?
  • Berkshire Hills Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Berkshire Hills Bancorp's earnings growth is expected to exceed the United States of America market average.
  • Unable to compare Berkshire Hills Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:BHLB Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BHLB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 16.7%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.2%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BHLB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BHLB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 147
2019-12-31 129
NYSE:BHLB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 444 222 105
2018-09-30 445 209 88
2018-06-30 429 128 79
2018-03-31 412 115 65
2017-12-31 399 78 55
2017-09-30 361 89 68
2017-06-30 337 84 62
2017-03-31 307 137 58
2016-12-31 281 98 59
2016-09-30 275 95 64
2016-06-30 269 114 63
2016-03-31 267 92 57

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Berkshire Hills Bancorp's earnings are expected to grow by 16.7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Berkshire Hills Bancorp is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BHLB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Berkshire Hills Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BHLB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.85 2.92 2.75 3.00
2019-12-31 2.58 2.65 2.50 2.00
NYSE:BHLB Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.28
2018-09-30 1.92
2018-06-30 1.78
2018-03-31 1.53
2017-12-31 1.39
2017-09-30 1.89
2017-06-30 1.83
2017-03-31 1.81
2016-12-31 1.89
2016-09-30 2.11
2016-06-30 2.06
2016-03-31 1.90

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Berkshire Hills Bancorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Berkshire Hills Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Berkshire Hills Bancorp has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BHLB Past Performance

  How has Berkshire Hills Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Berkshire Hills Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Berkshire Hills Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • Berkshire Hills Bancorp's 1-year earnings growth exceeds its 5-year average (90.5% vs 20.3%)
  • Berkshire Hills Bancorp's earnings growth has exceeded the US Banks industry average in the past year (90.5% vs 44.5%).
Earnings and Revenue History
Berkshire Hills Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Berkshire Hills Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BHLB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 443.78 104.85 251.30
2018-09-30 445.09 87.79 252.17
2018-06-30 428.74 78.69 247.73
2018-03-31 411.55 64.59 243.42
2017-12-31 399.46 55.03 235.34
2017-09-30 360.90 68.39 214.02
2017-06-30 336.88 61.87 197.17
2017-03-31 306.90 58.13 177.53
2016-12-31 280.76 58.67 161.06
2016-09-30 274.98 64.35 157.75
2016-06-30 268.79 62.67 156.21
2016-03-31 266.53 56.76 155.93
2015-12-31 251.41 49.52 151.22
2015-09-30 233.00 44.90 144.35
2015-06-30 223.48 42.19 138.22
2015-03-31 213.11 43.61 132.59
2014-12-31 211.49 33.74 130.22
2014-09-30 215.79 32.88 212.71
2014-06-30 214.69 29.00 121.92
2014-03-31 213.62 29.57 119.28
2013-12-31 215.61 41.14 115.78
2013-09-30 218.79 39.94 29.88
2013-06-30 211.02 41.86 112.88
2013-03-31 202.57 37.81 107.80
2012-12-31 186.67 33.83 100.83
2012-09-30 166.40 31.82 92.61
2012-06-30 158.76 26.19 88.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Berkshire Hills Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Berkshire Hills Bancorp used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Berkshire Hills Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Berkshire Hills Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Berkshire Hills Bancorp has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BHLB Health

 How is Berkshire Hills Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Berkshire Hills Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Berkshire Hills Bancorp Company Filings, last reported 3 months ago.

NYSE:BHLB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,552.92 1,562.78 186.66
2018-09-30 1,532.32 1,540.13 146.91
2018-06-30 1,516.24 1,363.77 150.54
2018-03-31 1,497.66 1,215.24 135.68
2017-12-31 1,496.26 1,164.24 257.85
2017-09-30 1,284.53 1,488.65 104.65
2017-06-30 1,268.19 1,472.22 114.67
2017-03-31 1,099.55 1,383.93 106.31
2016-12-31 1,093.30 1,350.06 130.02
2016-09-30 932.59 1,138.03 83.43
2016-06-30 923.42 1,320.24 89.06
2016-03-31 905.84 1,169.92 83.29
2015-12-31 887.19 1,303.44 112.76
2015-09-30 881.57 1,301.61 108.16
2015-06-30 827.15 1,286.59 219.90
2015-03-31 716.23 1,071.78 77.18
2014-12-31 709.29 1,082.81 86.31
2014-09-30 696.94 1,052.47 85.57
2014-06-30 690.46 1,067.37 127.85
2014-03-31 677.59 1,036.26 87.60
2013-12-31 678.06 1,088.53 79.70
2013-09-30 673.20 845.06 92.19
2013-06-30 672.97 696.57 95.67
2013-03-31 673.88 425.79 90.82
2012-12-31 667.27 490.54 117.71
2012-09-30 590.92 573.76 99.29
2012-06-30 583.27 467.99 83.85
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Berkshire Hills Bancorp has an acceptable proportion of non-loan assets held.
  • Berkshire Hills Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Berkshire Hills Bancorp are broadly funded by customer deposits.
  • Berkshire Hills Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Berkshire Hills Bancorp has a sufficient allowance for bad loans.
  • Berkshire Hills Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Berkshire Hills Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Berkshire Hills Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BHLB Dividends

 What is Berkshire Hills Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.12%
Current annual income from Berkshire Hills Bancorp dividends. Estimated to be 3.07% next year.
If you bought $2,000 of Berkshire Hills Bancorp shares you are expected to receive $62 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Berkshire Hills Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • Berkshire Hills Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BHLB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 472 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BHLB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.91 3.00
2019-12-31 0.91 3.00
NYSE:BHLB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-23 0.920 3.168
2018-11-09 0.880 2.938
2018-10-17 0.880 2.581
2018-08-09 0.880 2.131
2018-07-18 0.880 2.143
2018-01-25 0.880 2.253
2017-11-09 0.840 2.229
2017-10-19 0.840 2.188
2017-08-09 0.840 2.358
2017-07-19 0.840 2.311
2017-05-10 0.840 2.336
2017-04-24 0.840 2.244
2017-03-01 0.840 2.404
2017-01-30 0.840 2.364
2016-11-09 0.800 2.282
2016-10-24 0.800 2.708
2016-08-09 0.800 2.904
2016-07-25 0.800 3.001
2016-05-10 0.800 2.968
2016-04-25 0.800 2.980
2016-02-29 0.800 2.962
2016-01-25 0.800 3.064
2015-11-09 0.760 2.629
2015-10-26 0.760 2.601
2015-08-10 0.760 2.737
2015-07-22 0.760 2.614
2015-05-11 0.760 2.695
2015-04-27 0.760 2.734
2015-03-16 0.760 2.749
2015-01-26 0.760 2.901
2014-10-27 0.720 2.820
2014-07-23 0.720 2.994
2014-04-28 0.720 3.138
2014-01-27 0.720 2.854
2013-10-28 0.720 2.742
2013-07-24 0.720 2.834
2013-04-29 0.720 2.641
2013-01-28 0.720 2.890
2012-10-23 0.720 3.087
2012-07-24 0.680 2.994
2012-04-24 0.680 3.107
2012-01-31 0.680 3.006
2011-10-25 0.680 3.262
2011-07-26 0.640 3.229
2011-04-26 0.640 2.927
2010-10-20 0.640 3.012
2010-07-21 0.640 3.428
2010-04-21 0.640 3.314
2010-01-29 0.640 3.492
2009-10-27 0.640 3.328
2009-07-21 0.640 2.830
2009-04-17 0.640 2.951

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Berkshire Hills Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Berkshire Hills Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Berkshire Hills Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Berkshire Hills Bancorp has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BHLB Management

 What is the CEO of Berkshire Hills Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Richard Marotta
COMPENSATION $1,484,477
AGE 59
TENURE AS CEO 0.4 years
CEO Bio

Mr. Richard M. Marotta has been President, Chief Executive Officer and Director of Berkshire Hills Bancorp, Inc. since November 26, 2018. Mr. Marotta has been the Chief Executive Officer and Director of the Berkshire Bank since November 26, 2018 and served as its President since September 2015 until November 26, 2018. He is responsible for compliance, commercial banking, specialty lending, loan workout and oversees Berkshire Bank’s Foundation. He served as the Senior Executive Vice President of Berkshire Hills Bancorp, Inc. since September 25, 2015 until November 26, 2018. He serves as the Director of Berkshire Hills Bancorp, Inc. He served as Chief Risk & Administrative Officer of Berkshire Hills Bancorp, Inc. since July 25, 2013 and its Executive Vice President since January 2010. Mr. Marotta served as an Executive Vice President and Chief Risk Officer of Berkshire Hills Bancorp, Inc. and Berkshire Bank since January 2010. He has more than 28 years of experience sophisticated banking experience. Mr. Marotta served as an Executive Vice President and Group Head, Asset Recovery at KeyBank and has extensive career experience in credit and risk management, including asset based lending portfolios. He serves as Member of Board of Managers at Firestone Financial Corp.

CEO Compensation
  • Richard's compensation has been consistent with company performance over the past year.
  • Richard's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Berkshire Hills Bancorp management team in years:

6.4
Average Tenure
57.5
Average Age
  • The average tenure for the Berkshire Hills Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Richard Marotta

TITLE
President
COMPENSATION
$1M
AGE
59
TENURE
0.4 yrs

Jamie Moses

TITLE
Senior Executive VP
COMPENSATION
$820K
AGE
41
TENURE
2.8 yrs

Linda Johnston

TITLE
Consultant
COMPENSATION
$757K
AGE
65
TENURE
0.1 yrs

Sean Gray

TITLE
Senior Executive Vice President
COMPENSATION
$1M
AGE
42
TENURE
11 yrs

George Bacigalupo

TITLE
Senior Executive Vice President
COMPENSATION
$681K
AGE
63
TENURE
5.5 yrs

Wm. Prescott

TITLE
Senior EVP
AGE
56

Elizabeth Mach

TITLE
Senior VP & Marketing Officer
TENURE
12.9 yrs

Mark Foster

TITLE
Executive VP and Regional Commercial Leader of Eastern Massachusetts & Asset Based Lending
TENURE
9.3 yrs

John Faber

TITLE
Senior Vice President and Commercial Relationship Manager
TENURE
7.3 yrs

Brant McDougall

TITLE
Senior VP & Commercial Regional Leader of Eastern Massachusetts
Board of Directors Tenure

Average tenure and age of the Berkshire Hills Bancorp board of directors in years:

7.7
Average Tenure
70
Average Age
  • The tenure for the Berkshire Hills Bancorp board of directors is about average.
Board of Directors

Bill Ryan

TITLE
Non-Executive Chairman
COMPENSATION
$149K
AGE
74
TENURE
4.8 yrs

Richard Marotta

TITLE
President
COMPENSATION
$1M
AGE
59
TENURE
0.4 yrs

Thomas Unsworth

TITLE
Chairman of Berkshire Housing Development Corp & Berkshire Housings Svcs Inc

John Davies

TITLE
Director
COMPENSATION
$99K
AGE
69
TENURE
14.3 yrs

Bill Dunlaevy

TITLE
Director
COMPENSATION
$99K
AGE
72
TENURE
7.7 yrs

Richard Murphy

TITLE
Director
COMPENSATION
$99K
AGE
55
TENURE
5.3 yrs

David Brunelle

TITLE
Director
COMPENSATION
$91K
AGE
47
TENURE
1.3 yrs

Cornelius Mahoney

TITLE
Director
COMPENSATION
$93K
AGE
72
TENURE
14.3 yrs

D. Templeton

TITLE
Director
COMPENSATION
$93K
AGE
77
TENURE
14.3 yrs

Bob Curley

TITLE
Director
COMPENSATION
$277K
AGE
70
TENURE
9.3 yrs
Who owns this company?
Recent Insider Trading
  • Berkshire Hills Bancorp insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Mar 19 Sell Patrick Sheehan Individual 15. Mar 19 15. Mar 19 -63,172 $30.85 $-1,935,269
18. Mar 19 Sell Patrick Sheehan Individual 14. Mar 19 14. Mar 19 -28,100 $30.60 $-858,367
15. Mar 19 Sell Patrick Sheehan Individual 11. Mar 19 11. Mar 19 -9,938 $30.50 $-303,109
01. Mar 19 Buy Wm. Prescott Individual 01. Mar 19 01. Mar 19 22 $31.63 $696
26. Feb 19 Buy John Davies Individual 25. Feb 19 25. Feb 19 365 $30.96 $11,297
15. Feb 19 Buy Wm. Prescott Individual 15. Feb 19 15. Feb 19 1,050 $29.17 $30,632
20. Dec 18 Buy Richard Marotta Individual 20. Dec 18 20. Dec 18 1,860 $26.97 $50,173
18. Dec 18 Buy Laurie Moffatt Individual 17. Dec 18 17. Dec 18 750 $27.99 $20,992
17. Dec 18 Buy Wm. Prescott Individual 17. Dec 18 17. Dec 18 1,235 $28.44 $35,107
17. Dec 18 Buy John Davies Individual 17. Dec 18 17. Dec 18 1,380 $28.60 $39,468
14. Dec 18 Buy Cornelius Mahoney Individual 14. Dec 18 14. Dec 18 100 $28.73 $2,873
14. Dec 18 Buy David Brunelle Individual 14. Dec 18 14. Dec 18 4,000 $28.36 $113,433
12. Jun 18 Sell Michael Carroll Individual 12. Jun 18 12. Jun 18 -1,500 $42.53 $-63,798
01. May 18 Buy Paul Bossidy Individual 27. Apr 18 27. Apr 18 500 $38.25 $19,125
X
Management checks
We assess Berkshire Hills Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Berkshire Hills Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BHLB News

Simply Wall St News

Did Changing Sentiment Drive Berkshire Hills Bancorp's (NYSE:BHLB) Share Price Down By 25%?

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Even though the Berkshire Hills Bancorp share price is down over the year, its EPS actually improved. … Berkshire Hills Bancorp managed to grow revenue over the last year, which is usually a real positive.

Simply Wall St -

How Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Can Impact Your Portfolio Volatility

(NYSE:BHLB), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

When Should You Buy Berkshire Hills Bancorp, Inc. (NYSE:BHLB)?

saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on Berkshire Hills Bancorp’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Why Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Is A Top Dividend Stock

There is a lot to be liked about Berkshire Hills Bancorp, Inc. … Let's take a look at Berkshire Hills Bancorp in more detail. … Check out our latest analysis for Berkshire Hills Bancorp

Simply Wall St -

Berkshire Hills Bancorp, Inc. (NYSE:BHLB): Ex-Dividend Is In 4 Days

Investors who want to cash in on Berkshire Hills Bancorp, Inc.'s (NYSE:BHLB) upcoming dividend of US$0.23 per share have only 4 days left to buy the shares before its ex-dividend date, 13 February 2019, in time for dividends payable on the 28 February 2019. … Should you diversify into Berkshire Hills Bancorp and boost your portfolio income stream? … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St -

Should You Take Comfort From Insider Transactions At Berkshire Hills Bancorp, Inc. (NYSE:BHLB)?

Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … So we'll take a look at whether insiders have been buying or selling shares in Berkshire Hills Bancorp, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Have You Considered These Key Risks For Berkshire Hills Bancorp, Inc. (NYSE:BHLB)?

As a small-cap bank with a market capitalisation of US$1.3b, Berkshire Hills Bancorp, Inc.’s (NYSE:BHLB) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Berkshire Hills Bancorp’s bottom line. … View our latest analysis for Berkshire Hills Bancorp

Simply Wall St -

Does Berkshire Hills Bancorp Inc (NYSE:BHLB) Have A High Beta?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

When Should You Buy Berkshire Hills Bancorp Inc (NYSE:BHLB)?

Berkshire Hills Bancorp Inc (NYSE:BHLB), operating in the financial services industry based in United States,. … A question to answer is whether Berkshire Hills Bancorp's current trading price of $34.58 reflective of the actual value of the? … Let’s take a look at Berkshire Hills Bancorp’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Why Berkshire Hills Bancorp Inc (NYSE:BHLB) Is A Top Dividend Stock

Berkshire Hills Bancorp Inc (NYSE:BHLB) has pleased shareholders over the past 10 years, by paying out dividends. … Does Berkshire Hills Bancorp tick all the boxes of a great dividend stock? … Check out our latest analysis for Berkshire Hills Bancorp

Simply Wall St -

BHLB Company Info

Description

Berkshire Hills Bancorp, Inc. operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans. The company also provides wealth management services comprising investment management, trust administration, and financial planning; and investment products, financial planning, and brokerage services. In addition, it provides retail and commercial electronic banking, commercial cash management, online banking, and mobile banking services; and debit cards and other electronic fee producing payment services to transaction account customers. Further, the company, through its subsidiary, Berkshire Insurance Group, Inc., offers personal and commercial property, and casualty insurance; employee benefits insurance; and life, health, and financial services insurance products. It serves retail, commercial, not- profit, and municipal deposit customers. As of December 31, 2018, the company operated 115 full-service branches in Massachusetts, New York, Connecticut, Vermont, Central New Jersey, and Eastern Pennsylvania. Berkshire Hills Bancorp, Inc. was founded in 1846 and is headquartered in Boston, Massachusetts.

Details
Name: Berkshire Hills Bancorp, Inc.
BHLB
Exchange: NYSE
Founded: 1846
$1,344,263,537
45,521,962
Website: http://www.berkshirebank.com
Address: Berkshire Hills Bancorp, Inc.
60 State Street,
Boston,
Massachusetts, 02109,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BHLB Common Stock New York Stock Exchange US USD 28. Jun 2000
Number of employees
Current staff
Staff numbers
1,917
Berkshire Hills Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/16 23:33
End of day share price update: 2019/04/16 00:00
Last estimates confirmation: 2019/04/03
Last earnings filing: 2019/03/01
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.