NYSE$BBT
Beacon Financial Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Berkshire Hills Bancorp's second quarter of 2024 saw a solid net income, with operating EPS increasing and strategic progress made through branch consolidation and bolstering cash management capabilities.
Berkshire Hills Bancorp reported a net income of $24.0 million, or $0.57 per share, for the second quarter of 2024. Operating EPS increased by 12% to $0.55, driven by loan growth, higher fee income, and lower operating expenses. The company completed the consolidation of three branch offices and repurchased approximately 612 thousand shares totaling $13 million during the quarter.
- GAAP income was $24.0 million, or $0.57 per share.
- Operating earnings totaled $23.2 million, or $0.55 per share.
- Total loans increased $143 million to $9.23 billion due to commercial loan growth.
- Total deposits decreased $262 million to $9.62 billion.
Headline financials
Revenue & EPS history
Berkshire Hills Bancorp · Revenue · Quarterly
$109M
Revenue by segment
Berkshire Hills Bancorp · $2.6M total across 1 segment · Q4 2021
- Wealth management fees$2.6M—100.0%
Forward guidance
Berkshire will conduct a conference call/webcast at 9:00 a.m. eastern time on Thursday, July 18, 2024 to discuss results for the quarter and provide guidance about expected future results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.0%
Avg return
Earnings day
-1.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+11.1%
Q3 2020
Best reaction
-19.5%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | -4.3% | +2.5% | |
| Q4 2025 | +2.6% | +4.3% | +5.5% | |
| Q3 2025 | -0.4% | -1.3% | +2.9% | |
| Q2 2025 | -1.5% | -1.0% | +0.6% | |
| Q1 2025 | +3.2% | +3.4% | +2.2% | |
| Q4 2024 | +2.0% | +4.7% | -0.3% | |
| Q3 2024 | -1.9% | -0.1% | +13.6% | |
| Q2 2024 | +1.4% | +2.7% | -1.5% | |
| Q1 2024 | +5.7% | +8.4% | +14.3% | |
| Q4 2023 | +0.7% | +2.6% | -9.7% | |
| Q3 2023 | -5.2% | -6.4% | +7.4% | |
| Q2 2023 | -8.8% | -7.5% | -8.2% | |
| Q1 2023 | -6.0% | -11.9% | -12.2% | |
| Q4 2022 | +7.6% | +10.5% | +4.5% | |
| Q3 2022 | -1.2% | +1.3% | +5.7% | |
| Q2 2022 | +6.6% | +4.6% | +15.2% | |
| Q1 2022 | -6.0% | -8.9% | -12.4% | |
| Q4 2021 | -0.5% | +0.1% | +4.7% | |
| Q3 2021 | +3.4% | +1.1% | +3.0% | |
| Q2 2021 | +0.3% | +2.0% | -4.6% | |
| Q1 2021 | +3.9% | +2.3% | +23.7% | |
| Q4 2020 | -6.5% | -13.9% | +9.7% | |
| Q3 2020 | +11.1% | +8.9% | +47.3% | |
| Q2 2020 | -7.8% | -9.5% | -11.6% | |
| Q1 2020 | -19.5% | -26.8% | -26.5% | |
| Q4 2019 | -3.4% | -8.1% | -14.3% | |
| Q3 2019 | +2.6% | +4.4% | +5.2% | |
| Q2 2019 | +5.2% | +6.3% | -2.7% | |
| Q1 2019 | +0.3% | +1.8% | +0.5% | |
| Q4 2018 | -5.1% | -2.8% | +9.9% | |
| Q3 2018 | -6.6% | -11.9% | -11.4% | |
| Q2 2018 | +0.7% | +3.1% | +2.5% | |
| Q1 2018 | -0.1% | -0.5% | +2.6% | |
| Q4 2017 | -1.2% | -1.8% | -1.7% | |
| Q3 2017 | +1.7% | +0.4% | -5.6% | |
| Q2 2017 | +1.5% | +0.3% | -7.1% | |
| Q1 2017 | +6.2% | +7.3% | +5.4% | |
| Q4 2016 | -1.9% | -0.6% | +0.7% | |
| Q3 2016 | +3.9% | +3.9% | +19.7% | |
| Q2 2016 | -5.3% | -6.6% | -2.3% | |
| Q1 2016 | -1.9% | — | — | |
| Q4 2015 | +0.8% | — | — | |
| Q3 2015 | +2.7% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | +0.9% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +4.9% | — | — | |
| Q2 2014 | +5.2% | — | — | |
| Q1 2014 | -2.7% | — | — | |
| Q4 2013 | -2.4% | — | — | |
| Q3 2013 | +1.9% | — | — | |
| Q2 2013 | -2.1% | — | — | |
| Q1 2013 | +0.8% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | +0.9% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2011 | -1.6% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2010 | +2.3% | — | — | |
| Q3 2011 | -2.8% | — | — | |
| Q2 2010 | +1.3% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q1 2010 | +6.9% | — | — |
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