At a glance
Beacon Financial Corp is worth $2.55B, about 30 times its fiscal 2025 earnings. Revenue grew 55.7% to $553.0M in fiscal 2025, with 16.3% kept as profit. It pays a 4.21% dividend yield, and returned $442.8M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +32.8% over the past year with dividends reinvested, against +11.5% for the S&P 500.
The business in plain English
Beacon Financial Corporation is the Boston-based parent of Beacon Bank & Trust, which has 147 banking offices across New England and New York. The bank lends to businesses, commercial property owners and households, takes deposits, and offers cash management, foreign exchange and online banking. Clarendon Private, an SEC-registered investment advisor, works with the bank's trust division to manage wealth for individuals, families, endowments and foundations. The bank also finances equipment for small businesses through Eastern Funding, and it makes Small Business Administration loans to sell to investors through 44 Business Capital.
Like most banks, it earns mainly net interest income. That is the gap between the interest it collects on loans and securities and the interest it pays on deposits and borrowings. In 2025, net interest income was $503.1 million, compared with $49.9 million of noninterest income, such as fees. Commercial loans were $14.0 billion, or 77.4% of the $18.0 billion loan book, at December 31, 2025. Deposits of $19.5 billion included $1.9 billion from a payment processing business that serves payroll service companies. The 10-K gives no revenue split by segment or region.
The combined company dates from September 1, 2025. On that day Berkshire Hills Bancorp merged with Brookline Bancorp as equals, took the Beacon name and changed its ticker from BHLB to BBT. For accounting, Brookline was the acquirer, so reported results from before the merger are Brookline's.
Price history
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BBT +32.8% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $219.2M, up 92.8% from a year earlier, and net income was $64.4M (+192.5%).
- For fiscal 2025, revenue was $553.0M (+55.7% year over year) with a 16.3% net margin.
Financial health check
| Return on equity | 3.6% weak |
|---|---|
| Net income / revenue | 16.3% watch |
| Deposits | $18.49B |
| Loans | $17.58B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $383.1M | $-533.0M | — |
| FY2021 | $434.4M | $118.7M | — |
| FY2022 | $413.5M | $92.5M | — |
| FY2023 | $371.6M | $75.0M | — |
| FY2024 | $355.2M | $68.7M | — |
| FY2025 | $553.0M | $90.3M | — |
Valuation snapshot
| Market value | $2.55B |
|---|---|
| P/E ratio | 29.5 |
| Dividend yield | 4.21% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BBT price data to Oct 28, 2026 | +18.9% | +32.8% | — | — | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +18.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 7 open-market purchases ($280K) and 1 sales ($20K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Oct 26, 2026 | Thomas J Hollister Director | buy | $105K |
| Oct 28, 2026 | Mary Anne Callahan Director | buy | $97K |
| Oct 26, 2026 | Karyn Polito Director | buy | $31K |
| Oct 28, 2026 | Eric S Rosengren Director | buy | $21K |
| Oct 26, 2026 | John Buckley Eagan General Counsel | sell | $20K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.6% | Mar 31, 2025 |
| Vanguard Portfolio Management | 6.19% | Mar 31, 2026 |
| Vanguard Capital Management | 5.25% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.2% | Jun 30, 2025 |
| Fuller & Thaler Asset Management, Inc. | 4.7% | Jun 30, 2026 |
| Integrated Core Strategies (US) LLC | 4.2% | Sep 30, 2026 |
What could go wrong
- The merger may not pay off. The September 2025 merger combined four banks into one, Beacon Bank & Trust. If the expected benefits don't arrive, key staff leave, or the larger company proves hard to manage, earnings could suffer.
- Heavy tilt toward commercial lending. Commercial loans made up 77.4% of loans at December 31, 2025. These are generally riskier than home loans, and the Eastern Funding unit lends to small businesses with limited capital.
- Tied to New England and New York. Most loans are made in its market areas and secured by local real estate. A regional slowdown, rising unemployment or weaker property values could leave more borrowers unable to repay.
- Deposits could leave or cost more. Stable core deposits slipped to 67.0% of the total at the end of 2025, from 69.1%. Payroll deposits can swing by hundreds of millions of dollars daily, and losing deposits could raise funding costs.
- Interest rate swings squeeze lending profits. Earnings depend mostly on net interest income. Higher rates can push borrowers into default and cut the value of bond holdings. Lower rates can trigger early loan payoffs, which reduces interest earned.
- Dividends depend on the bank and regulators. The holding company pays dividends from money sent up by Beacon Bank & Trust. Regulatory limits and strict capital rules can restrict those payments, and with them dividends and share buybacks.
Recent events
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Executive or board change; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Other company announcement
- Investor presentation or announcement
- Executive or board change; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Shareholder vote results
For income and retirement investors
Beacon's dividend yield (a year's dividends divided by the stock price) was 4.21% as of October 28, 2026. Dividends per share rose to about $0.73 in 2025 from $0.54 in 2024, a one-year streak of increases. The longer record is patchier. Years before 2023 are on an older reporting basis, and on that basis the dividend fell from $0.72 in 2020 to $0.48 in 2021, after a net loss in 2020. Dividends took 69.9% of 2025 earnings. The company spent $234.6 million buying back its own shares over fiscal 2021–2025. Even so, the share count rose 71.3% from August 2021 to July 2026, a period that includes the merger.
Price history under the BBT ticker covers only about a year. So it shows nothing about the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its worst peak-to-trough fall in the year to October 28, 2026 was 16.9%. A single bank stock carries more risk than a diversified fund.
Questions investors ask
How does Beacon Financial make money?
Mostly by lending. Beacon Financial earns net interest income, which is the gap between the interest it collects on loans and securities and the interest it pays on deposits and borrowings. That came to $503.1 million in 2025, while noninterest income, such as fees, added $49.9 million. Business lending is the largest part: commercial loans were 77.4% of its $18.0 billion loan book at December 31, 2025. Its net interest margin measures that spread against interest-earning assets. It rose to 3.56% in 2025 from 3.06% in 2024.
What happened to Berkshire Hills Bancorp (BHLB) stock?
It became Beacon Financial Corporation, which trades on the NYSE as BBT. On September 1, 2025, Berkshire Hills Bancorp completed a merger of equals with Brookline Bancorp, took the Beacon name and changed its ticker from BHLB to BBT. Berkshire Bank, Bank Rhode Island and PCSB Bank were merged into Brookline Bank, which became Beacon Bank & Trust. Brookline was treated as the acquirer for accounting, so reported results from before the merger are Brookline's.
Does Beacon Financial raise its dividend every year?
No. Its streak of dividend increases is one year long. Dividends per share rose to about $0.73 in 2025 from $0.54 in 2024. Years before 2023 are on an older reporting basis, and on that basis the dividend fell from $0.72 a share in 2020 to $0.48 in 2021. The yield was 4.21% as of October 28, 2026, and dividends took 69.9% of 2025 earnings. Payments depend on cash from the bank, which regulators can limit.
What is Beacon Financial's P/E ratio?
It was 29.5 as of October 28, 2026, based on 2025 earnings of $1.03 a share. The price-to-earnings (P/E) ratio compares the share price with a year's profit. The merger closed only on September 1, 2025. Return on equity, which is profit as a share of shareholders' money, was 3.6% for 2025. Net income for the quarter ended June 30, 2026 was $64.4 million. That was up 192.5% from the same quarter a year earlier, before the merger.
Does Beacon Financial have a lot of bad loans?
Problem loans were a small share of assets at the end of 2025, though the dollar amount rose. Nonperforming assets, such as loans that have stopped paying as agreed, were $116.7 million at December 31, 2025, up from $70.5 million a year earlier. That was 0.50% of total assets, down from 0.59%. The allowance for loan losses is money set aside for expected bad loans. It rose to 1.40% of loans from 1.28%. Commercial loans, which are generally riskier, made up 77.4% of the total.