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Berkshire Hills Bancorp (BHLB)
NYSE:BHLB
Earnings Data
Report Date
Apr 17, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.53Last Year’s EPS
0.49Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 30, 2025
|% Change Since: 0.77%
|Next Earnings Date:Apr 17, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong operating earnings growth, improved asset quality, and significant deposit growth, driven by successful strategic initiatives and a merger announcement. However, challenges remain with a decline in net interest income and modest loan growth, alongside an elevated tax rate due to merger expenses.Company Guidance
During the Berkshire Hills Bancorp Fourth Quarter 2024 Earnings Conference Call, the company provided robust guidance and financial metrics showcasing strong performance. The operating earnings per share (EPS) stood at $0.60, marking a 3% increase from the previous quarter and a 28% rise year-over-year. Operating net income was $26 million, up 5% linked quarter and 29% year-over-year. The operating return on tangible common equity (ROTC) was 9.93%, with an increase of 2 basis points from the prior quarter and 103 basis points year-over-year. Fee revenues increased by 8% quarter-over-quarter, while credit provision expenses remained stable and operating expenses decreased by 2% linked quarter and 6% compared to the previous year. Asset quality metrics were strong, with net charge-offs at 14 basis points of loans and reserve to loans ratio stable at 122 basis points. Delinquencies and non-performing loans were at their lowest in nearly two decades at 52 basis points. Capital ratios improved, with the common equity tier 1 (CET1) at 13.0% and tangible common equity (TCE) at 9.4%. Average deposits grew by 3%, and the loans to deposit ratio was a solid 96%. The company anticipated a decline in funding costs as deposit rates were adjusted following the Federal Reserve's interest rate cuts. Additionally, Berkshire Hills announced a merger with Brookline Bancorp, expected to enhance profitability with significant EPS accretion by 2026 and achieve an efficiency ratio below 50%.Strong Operating Earnings Growth
Operating EPS of $0.60 was up 3% linked quarter and up 28% year-over-year. Operating net income of $26 million was up 5% linked quarter and up 29% year-over-year.
Improved Asset Quality Metrics
Delinquencies and non-performing loans were at 52 basis points of loans, the lowest level in almost 20 years. Net charge-offs were 14 basis points of loans.
Significant Deposit Growth
Average deposits increased $299 million or 3% linked quarter. Excluding payroll and brokered CD balances, end-of-period deposits grew 3% quarter over quarter.
Successful Strategic Initiatives
Completed the sale of 10 branches in New York, de-risked the balance sheet, and invested in bankers and technology. Net Promoter Score remained above 60 in the fourth quarter.
Merger with Brookline Bancorp
Announced a merger with Brookline Bancorp to create a Northeast franchise, expected to close in the second half of 2025, improving scale and profitability with estimated accretion to EPS.
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BHLB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BHLB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 30, 2025 | $28.39 | $28.95 | +1.97% |
| Oct 24, 2024 | $27.16 | $26.97 | -0.70% |
| Jul 18, 2024 | $26.46 | $26.62 | +0.60% |
| Apr 18, 2024 | $19.98 | $20.42 | +2.20% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Berkshire Hills Bancorp (BHLB) report earnings?
Berkshire Hills Bancorp (BHLB) is schdueled to report earning on Apr 17, 2025, TBA Not Confirmed.
What is Berkshire Hills Bancorp (BHLB) earnings time?
Berkshire Hills Bancorp (BHLB) earnings time is at Apr 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BHLB EPS forecast?
BHLB EPS forecast for the fiscal quarter 2025 (Q1) is 0.53.
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