California Public Employees Retirement System increased its holdings in Boston Private Financial Hldg Inc (NASDAQ:BPFH) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,206 shares of the bank’s stock after purchasing an additional 13,280 shares during the period. California Public Employees Retirement System owned approximately 0.28% of Boston Private Financial worth $3,680,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. CIBC Asset Management Inc bought a new stake in Boston Private Financial in the fourth quarter worth $169,000. Crossmark Global Holdings Inc. bought a new stake in Boston Private Financial in the third quarter worth $293,000. Teacher Retirement System of Texas bought a new stake in Boston Private Financial in the fourth quarter worth $444,000. Municipal Employees Retirement System of Michigan boosted its holdings in Boston Private Financial by 59.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 31,570 shares of the bank’s stock worth $522,000 after purchasing an additional 11,770 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Boston Private Financial by 80.9% in the third quarter. BNP Paribas Arbitrage SA now owns 46,945 shares of the bank’s stock worth $777,000 after purchasing an additional 21,001 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.
BPFH has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.50 price target on shares of Boston Private Financial in a report on Friday, December 22nd. BidaskClub cut shares of Boston Private Financial from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Zacks Investment Research cut shares of Boston Private Financial from a “hold” rating to a “sell” rating in a report on Tuesday. SunTrust Banks set a $17.00 price target on shares of Boston Private Financial and gave the company a “hold” rating in a report on Friday, November 17th. Finally, ValuEngine upgraded shares of Boston Private Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Boston Private Financial currently has a consensus rating of “Hold” and a consensus target price of $16.50.
Shares of Boston Private Financial Hldg Inc (NASDAQ BPFH) opened at $15.60 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.08. Boston Private Financial Hldg Inc has a fifty-two week low of $13.95 and a fifty-two week high of $17.20. The stock has a market cap of $1,289.24, a PE ratio of 36.51 and a beta of 1.03.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings results on Wednesday, January 17th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Boston Private Financial had a net margin of 9.58% and a return on equity of 9.95%. The firm had revenue of $96.45 million for the quarter, compared to the consensus estimate of $100.07 million. During the same quarter last year, the company earned $0.24 earnings per share. equities research analysts predict that Boston Private Financial Hldg Inc will post 0.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 2nd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.08%. This is a boost from Boston Private Financial’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, February 1st. Boston Private Financial’s dividend payout ratio is 111.63%.
In related news, EVP W. Timothy Macdonald acquired 6,943 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average price of $15.14 per share, with a total value of $105,117.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Corey Griffin acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $15.19 per share, with a total value of $75,950.00. The disclosure for this purchase can be found here. Insiders have bought 33,255 shares of company stock valued at $507,486 in the last ninety days. 2.07% of the stock is owned by company insiders.
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Boston Private Financial 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.
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