California Public Employees Retirement System grew its holdings in Boston Private Financial Hldg Inc (NASDAQ:BPFH) by 5.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 238,206 shares of the bank’s stock after buying an additional 13,280 shares during the quarter. California Public Employees Retirement System owned approximately 0.28% of Boston Private Financial worth $3,680,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc bought a new position in Boston Private Financial during the 4th quarter valued at approximately $169,000. Crossmark Global Holdings Inc. bought a new position in Boston Private Financial during the 3rd quarter valued at approximately $293,000. Teacher Retirement System of Texas bought a new position in Boston Private Financial during the 4th quarter valued at approximately $444,000. Municipal Employees Retirement System of Michigan increased its position in Boston Private Financial by 59.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 31,570 shares of the bank’s stock valued at $522,000 after buying an additional 11,770 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Boston Private Financial by 80.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 46,945 shares of the bank’s stock worth $777,000 after buying an additional 21,001 shares during the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.
A number of research firms have recently issued reports on BPFH. Zacks Investment Research upgraded Boston Private Financial from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday. BidaskClub upgraded Boston Private Financial from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. ValuEngine upgraded Boston Private Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $16.00 price objective on shares of Boston Private Financial in a research report on Friday, January 19th. Finally, Sandler O’Neill set a $17.00 target price on Boston Private Financial and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Boston Private Financial has a consensus rating of “Hold” and an average price target of $16.50.
Shares of NASDAQ:BPFH traded down $0.45 during trading hours on Friday, hitting $14.95. 387,898 shares of the company’s stock traded hands, compared to its average volume of 450,128. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $1,259.60, a PE ratio of 16.99 and a beta of 0.96. Boston Private Financial Hldg Inc has a 1 year low of $13.95 and a 1 year high of $17.20.
Boston Private Financial (NASDAQ:BPFH) last announced its quarterly earnings results on Wednesday, January 17th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $96.45 million during the quarter, compared to analysts’ expectations of $100.07 million. Boston Private Financial had a net margin of 9.58% and a return on equity of 9.95%. During the same quarter in the previous year, the firm posted $0.24 EPS. equities research analysts expect that Boston Private Financial Hldg Inc will post 0.94 EPS for the current fiscal year.
In other Boston Private Financial news, EVP W. Timothy Macdonald purchased 3,129 shares of Boston Private Financial stock in a transaction dated Monday, January 22nd. The shares were acquired at an average cost of $15.44 per share, with a total value of $48,311.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Corey Griffin purchased 5,000 shares of Boston Private Financial stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average cost of $15.19 per share, for a total transaction of $75,950.00. The disclosure for this purchase can be found here. Insiders purchased 33,255 shares of company stock valued at $507,486 in the last quarter. 2.11% of the stock is owned by company insiders.
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Boston Private Financial Profile
Boston Private Financial Holdings, Inc operates as the bank holding company for Boston Private Bank & Trust Company that provides a range of banking services in the United States. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.
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