BOSTON - Berkshire Hills (NYSE:BHLB) Bancorp, Inc. (NYSE:BHLB), the parent company of Berkshire Bank, has scheduled its 2024 Annual Meeting of Shareholders for Thursday, May 16, at the bank's offices in Pittsfield, Massachusetts. Shareholders as of the record date, March 21, 2024, will be eligible to receive notice and vote at the meeting.
The agenda for this year's meeting includes key items such as the election of directors, decisions on executive compensation, and the engagement of auditors. Details regarding the meeting will be made available on the company's website in early April.
Berkshire Hills Bancorp, with headquarters in Boston, operates Berkshire Bank, which is known for its community-centric banking approach. As a regional bank, it manages assets totaling $12.4 billion and maintains 96 financial centers across New England and New York. The bank provides a range of services including commercial and retail banking, as well as wealth and private banking solutions.
This announcement is based on a press release statement from Berkshire Hills Bancorp, Inc.
InvestingPro Insights
As Berkshire Hills Bancorp, Inc. (NYSE:BHLB) prepares for its 2024 Annual Meeting of Shareholders, investors and stakeholders may be interested in some key financial metrics and insights provided by InvestingPro. The company, which prides itself on a consistent dividend policy, has maintained dividend payments for an impressive 24 consecutive years. This is a testament to its commitment to shareholder returns, even as it navigates through varying economic cycles.
InvestingPro Data shows a market capitalization of $984.78 million, reflecting the company's size and market presence within the regional banking sector. The Price to Earnings (P/E) ratio stands at 14.47, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 13.13, suggesting a potentially reasonable valuation relative to earnings. Furthermore, the dividend yield as of the latest data is 3.12%, which could be appealing to income-focused investors.
Berkshire Hills Bancorp's commitment to profitability is highlighted by analysts' predictions that the company will be profitable this year, as noted in InvestingPro Tips. Additionally, the company has been profitable over the last twelve months, reinforcing the positive outlook. However, it is worth noting that three analysts have revised their earnings downwards for the upcoming period, and the company suffers from weak gross profit margins, which could be areas of concern for potential investors.
For those looking to delve deeper into Berkshire Hills Bancorp's financial health and future prospects, InvestingPro offers a range of additional tips. Currently, there are four more tips available, which can provide further insights into the company's performance and potential investment opportunities.
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