KBRA Comments on Merger Agreement Between Berkshire Hills Bancorp, Inc. and Brookline Bancorp, Inc.
Berkshire Hills Bancorp, Inc. (BHLB)
Last berkshire hills bancorp, inc. earnings: 1/27 04:15 pm
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US:NASDAQ Investor Relations:
shareholder.broadridge.com/bhlb
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--On December 16, 2024, Berkshire Hills Bancorp, Inc. (NYSE: BHLB)(KBRA senior unsecured debt rating: BBB / Stable Outlook), the parent company of Berkshire Bank, and Brookline Bancorp, Inc. (NASDAQ: BRKL)(KBRA senior unsecured debt rating: BBB / Stable Outlook), the parent company of Brookline Bank, Bank Rhode Island, and PCSB Bank, announced a definitive agreement pursuant to which BRKL will merge with and into BHLB in an all-stock transaction valued at approximately $1.1 billion (or $12.68 per share of BRKL common stock, based on the $30.20 closing price of BHLB common stock) with an expected closing date in 3Q25. Additionally, BHLB announced that it has entered into subscription agreements with investors to issue $100 million of its common stock at $29.00 per share in support of the merger, with an expected close on the capital raise on December 19, 2024. The leadership of the combined company includes a 50/50 split of the 16 person board of directors,
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BHLB
News
- Berkshire Hills Bancorp (NYSE:BHLB) shareholders have earned a 17% return over the last year [Yahoo! Finance]Yahoo! Finance
- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) had its price target raised by analysts at Keefe, Bruyette & Woods from $32.00 to $34.50. They now have a "market perform" rating on the stock.MarketBeat
- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) was upgraded by analysts at Piper Sandler from a "hold" rating to a "strong-buy" rating.MarketBeat
- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) was upgraded by analysts at Seaport Res Ptn from a "hold" rating to a "strong-buy" rating.MarketBeat
- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) had its price target lowered by analysts at Royal Bank of Canada from $32.00 to $31.00. They now have a "sector perform" rating on the stock.MarketBeat
BHLB
Earnings
- 10/24/24 - Beat
BHLB
Sec Filings
- 12/23/24 - Form 8-K
- 12/19/24 - Form D
- 12/16/24 - Form 8-K
- BHLB's page on the SEC website