BidaskClub Downgrades Blue Hills Bancorp (BHBK) to Hold

Blue Hills Bancorp (NASDAQ:BHBK) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

BHBK has been the subject of several other reports. Piper Jaffray Companies restated a “hold” rating and set a $22.50 price objective on shares of Blue Hills Bancorp in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $22.50 price objective on shares of Blue Hills Bancorp in a research report on Friday, December 22nd.

Blue Hills Bancorp (BHBK) traded down $0.55 during trading hours on Wednesday, hitting $19.95. 39,300 shares of the stock traded hands, compared to its average volume of 50,935. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $549.97, a P/E ratio of 29.34 and a beta of 0.18. Blue Hills Bancorp has a 12-month low of $16.40 and a 12-month high of $22.05.

Blue Hills Bancorp (NASDAQ:BHBK) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Blue Hills Bancorp had a net margin of 16.19% and a return on equity of 3.47%. The firm had revenue of $20.72 million during the quarter. analysts expect that Blue Hills Bancorp will post 0.83 earnings per share for the current year.

In related news, Director George E. Clancy sold 1,517 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $20.35, for a total transaction of $30,870.95. Following the completion of the sale, the director now directly owns 18,795 shares in the company, valued at $382,478.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in BHBK. Alliancebernstein L.P. increased its position in Blue Hills Bancorp by 31.7% during the second quarter. Alliancebernstein L.P. now owns 19,100 shares of the bank’s stock worth $342,000 after purchasing an additional 4,600 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Blue Hills Bancorp by 10.3% during the second quarter. TIAA CREF Investment Management LLC now owns 120,196 shares of the bank’s stock valued at $2,152,000 after acquiring an additional 11,263 shares during the last quarter. Northern Trust Corp increased its position in shares of Blue Hills Bancorp by 9.6% during the second quarter. Northern Trust Corp now owns 319,034 shares of the bank’s stock valued at $5,711,000 after acquiring an additional 27,948 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Blue Hills Bancorp by 4.6% during the second quarter. Vanguard Group Inc. now owns 1,166,300 shares of the bank’s stock valued at $20,877,000 after acquiring an additional 51,546 shares during the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Blue Hills Bancorp during the second quarter valued at about $277,000. Hedge funds and other institutional investors own 51.60% of the company’s stock.

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About Blue Hills Bancorp

Blue Hills Bancorp, Inc is a bank holding company for the Blue Hills Bank (the Bank). Blue Hills Bank is a Massachusetts-chartered savings bank. As of December 31, 2016, the Bank provided financial services to individuals, families, small to mid-size businesses and government and non-profit organizations online and through its 11 full-service branch offices located in Brookline, Dedham, Hyde Park, Milton, Nantucket, Norwood, West Roxbury, and Westwood, Massachusetts.

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