Alliancebernstein L.P. Decreases Holdings in Boston Private Financial Holdings, Inc. (BPFH)

Alliancebernstein L.P. cut its stake in Boston Private Financial Holdings, Inc. (NASDAQ:BPFH) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,528 shares of the bank’s stock after selling 10,900 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Boston Private Financial Holdings worth $1,850,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Boston Private Financial Holdings by 6.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 489,902 shares of the bank’s stock worth $8,035,000 after purchasing an additional 29,297 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Boston Private Financial Holdings by 28.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,186,426 shares of the bank’s stock worth $18,212,000 after purchasing an additional 262,435 shares in the last quarter. Washington Trust Bank purchased a new position in shares of Boston Private Financial Holdings during the 2nd quarter worth approximately $259,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Boston Private Financial Holdings by 5.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,800 shares of the bank’s stock worth $304,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Boston Private Financial Holdings by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 651,420 shares of the bank’s stock worth $10,683,000 after purchasing an additional 23,138 shares in the last quarter. 89.72% of the stock is owned by institutional investors.

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BPFH has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Boston Private Financial Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.00 target price on shares of Boston Private Financial Holdings in a research note on Tuesday, October 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 target price on shares of Boston Private Financial Holdings in a research note on Thursday, October 5th. BidaskClub cut shares of Boston Private Financial Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $17.00 target price on shares of Boston Private Financial Holdings in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Boston Private Financial Holdings, Inc. (NASDAQ:BPFH) opened at 16.25 on Friday. The company’s 50 day moving average is $15.87 and its 200 day moving average is $15.43. Boston Private Financial Holdings, Inc. has a 12-month low of $12.45 and a 12-month high of $17.88. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 19.14 and a beta of 1.09.

Boston Private Financial Holdings (NASDAQ:BPFH) last issued its earnings results on Wednesday, October 18th. The bank reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $96.89 million for the quarter, compared to analyst estimates of $98.00 million. Boston Private Financial Holdings had a return on equity of 10.03% and a net margin of 18.44%. On average, equities analysts anticipate that Boston Private Financial Holdings, Inc. will post $0.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 2.71%. Boston Private Financial Holdings’s payout ratio is 51.16%.

Boston Private Financial Holdings Company Profile

Boston Private Financial Holdings, Inc is the bank holding company of Boston Private Bank & Trust Company. The Company offers private banking and wealth management services to high net worth individuals, families, businesses and select institutions. Its segments include Private Banking, Wealth Management and Trust, Investment Management and Wealth Advisory.

Institutional Ownership by Quarter for Boston Private Financial Holdings (NASDAQ:BPFH)

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