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Berkshire Hills Bancorp (BHLB)

Berkshire Hills Bancorp is the parent of Berkshire Bank, a 21st century community bank pursuing purpose driven performance based on its Be FIRST corporate responsibility culture. Headquartered in Boston, Berkshire operates 130 banking offices in seven Northeastern states, with approximately $12.9 billion in assets.

Company profile

Ticker
BHLB
Exchange
CEO
Richard Marotta
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Beacon Comprehensive Services Corp. • RSB Properties, Inc. • CSB Service Corp. • Legacy Insurance Services of the Berkshires, LLC • North Street Securities Corporation • Woodland Securities, Inc. • Hampden Investment Corporation • Firestone Financial, LLC • First Choice Loan Services Inc. • Old Spot Properties, LLC ...
IRS number
43510455

BHLB stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

8 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 871.02M 871.02M 871.02M 871.02M 871.02M 871.02M
Cash burn (monthly) 245.41M 79.64M (no burn) (no burn) 803K (no burn)
Cash used (since last report) 724.39M 235.07M n/a n/a 2.37M n/a
Cash remaining 146.63M 635.95M n/a n/a 868.65M n/a
Runway (months of cash) 0.6 8.0 n/a n/a 1081.8 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 Jacqueline Courtwright Common Stock Payment of exercise Acquire F No No 25.21 615 15.5K 4,702
1 Jul 22 Jason T White Common Stock Payment of exercise Dispose F No No 25.21 1,155 29.12K 3,442
1 Jul 22 Mihir A. Desai Common Stock Grant Acquire A Yes No 0 2,099 0 2,099
31 May 22 Prescott Wm Gordon Common Stock Buy Acquire P Yes No 25.9983 16 415.97 1,196
16 May 22 Michael Zaitzeff Common Stock Sell Dispose S Yes No 24.7 1,274,279 31.47M 0
79.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 171 180 -5.0%
Opened positions 21 18 +16.7%
Closed positions 30 14 +114.3%
Increased positions 39 51 -23.5%
Reduced positions 78 66 +18.2%
13F shares Current Prev Q Change
Total value 902.11M 1.1B -18.3%
Total shares 36.42M 38.12M -4.5%
Total puts 0 11K EXIT
Total calls 0 0
Total put/call ratio Infinity
Largest owners Shares Value Change
BLK Blackrock 6.96M $172.42M -2.5%
Vanguard 5.21M $128.95M -0.9%
Dimensional Fund Advisors 2.98M $73.8M +5.6%
STT State Street 2.31M $57.2M -1.9%
Alliancebernstein 1.66M $41.24M -0.8%
William Blair Investment Management 1.37M $33.91M -2.5%
IVZ Invesco 1.17M $29.09M -0.3%
Clark Capital Management 1.01M $25.06M 0.0%
Geode Capital Management 808.75K $20.03M -4.4%
Systematic Financial Management 788.35K $19.53M +0.5%
Largest transactions Shares Bought/sold Change
HoldCo Asset Management 398.92K -1.27M -76.2%
Thrivent Financial For Lutherans 535.02K +495.4K +1250.4%
Aristotle Capital Boston 473.73K -452.15K -48.8%
MS Morgan Stanley 566.16K +368.65K +186.7%
Parametric Portfolio Associates 0 -353.12K EXIT
Verition Fund Management 226.48K +226.48K NEW
GS Goldman Sachs 774.49K -216.87K -21.9%
BLK Blackrock 6.96M -175.46K -2.5%
Dimensional Fund Advisors 2.98M +159.05K +5.6%
Putnam Investments 0 -108.24K EXIT

Financial report summary

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Risks
  • Securities Market Value Risks
  • Significant Accounting Estimates Risks
  • Trading of the Company's Common Stock
  • Deterioration in the Housing Sector, Commercial Real Estate, and Related Markets May Adversely Affect Business and Financial Results.
  • The Company’s Emphasis on Commercial Lending May Expose the Company to Increased Lending Risks, Which Could Hurt Profits.
  • The Company is Subject to a Variety of Risks in Connection With Any Sale of Loans it May Conduct.
  • The Company is Exposed to Risk of Environmental Liability When It Takes Title to Property.
  • The COVID-19 Pandemic is Adversely Affecting, and Will Likely Continue to Adversely Affect, the Company’s Business, Financial Condition, Liquidity, and Results of Operations.
  • The Company is Subject to Security and Operational Risks Relating to the Use of Technology that Could Damage the Company's Reputation and Business.
  • The Company Faces Cybersecurity Risks, Including Denial of Service Attacks, Ransomware, Hacking and Identity Theft that Could Result in the Disclosure of Confidential Information or the Creation of Unauthorized Transactions, Which Could Adversely Affect the Company’s Business or Reputation and Create Significant Legal and Financial Exposure.
  • Counterparties and Correspondents Expose the Company to Risks.
  • The Company’s Business is Reliant on Outside Vendors.
  • Development of New Products and Services May Impose Additional Costs on the Company and May Expose It to Increased Operational Risk.
  • The Discontinuation of LIBOR and the Emergence of One or More Alternative Benchmark Indices to Replace LIBOR Could Adversely Impact the Company’s Business and Results of Operations.
  • The Company's Wholesale Funding Sources May Prove Insufficient to Replace Deposits at Maturity and Support Operations and Future Growth.
  • The Company's Ability to Service Our Debt, Pay Dividends, and Otherwise Pay Obligations as They Come Due Is Substantially Dependent on Capital Distributions from the Bank, and These Distributions Are Subject to Regulatory Limits and Other Restrictions. The Company’s Stock Repurchase Program is also Dependent on These Distributions.
  • The Loss Recorded in 2020 May Have an Adverse Effect on Future Dividend Payments to Common Shareholders.
  • Secondary Mortgage Market Conditions Could Have a Material Impact on the Company’s Financial Condition and Results of Operations.
  • Market Interest Rate Conditions Could Adversely Affect Results of Operations and Financial Condition.
  • Declines in the Value of Certain Investment Securities Could Require Write-Downs, Which Would Reduce Earnings.
  • Legislative and Regulatory Initiatives May Affect Business Activities and Increase Operating Costs.
  • Provisions of the Company's Certificate of Incorporation, Bylaws, and Delaware Law, as Well as State and Federal Banking Regulations, Could Delay or Prevent a Takeover of Us by a Third Party.
  • Various Factors May Cause our Allowance for Credit Losses on Loans to Increase.
  • Fair Value Measurements May Be Affected by Inherent Uncertainties
  • The Trading History of the Company’s Common Stock is Characterized By Low Trading Volume. The Value of Shareholder Investments May be Subject to Sudden Decreases Due to the Volatility of the Price of the Common Stock.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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