|Day's Range||35.95 - 37.05|
|52 Week Range||24.80 - 38.65|
|PE Ratio (TTM)||20.36|
|Earnings Date||Apr 24, 2017 - Apr 28, 2017|
|Dividend & Yield||0.84 (2.36%)|
|1y Target Est||38.67|
Berkshire Bank is relocating its headquarters to the financial district in Boston from Pittsfield, Massachusetts, as it looks to become a larger regional bank. The bank is also acquiring Commerce Bank, based in Worcester, Massachusetts, in a deal valued at $209 million. It will add 16 new branches in eastern Massachusetts, as well as a commercial lending team, making it the second largest bank in Massachusetts .
The parent company of Berkshire Bank announced Monday that it was acquiring Worcester-based Commerce Bank — making Berkshire the second-largest bank in Massachusetts behind Santander — and moving the entire company’s headquarters from Pittsfield to Boston. With the Commerce buy, Berkshire (BHLB) will have 16 new branches in eastern and central Massachusetts. It currently has just one retail branch, which it opened in downtown Boston earlier this year, and a handful of lending offices in the region.
PITTSFIELD, Mass., May 22, 2017 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) (the "Company") announced today the pricing of an underwritten public offering of 4,637,690 shares of the Company's common stock at a price to the public of $34.50 per share resulting in net proceeds to the Company of approximately $152.9 million, after deducting the underwriting discount and commissions and other estimated offering expenses. The offering of common stock is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-207429) filed by the Company with the Securities and Exchange Commission ("SEC") and only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement has been filed with the SEC to which this communication relates.