Zacks Investment Research downgraded shares of Boston Private Financial (NASDAQ:BPFH) from a buy rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “Boston Private Bancorp, through its subsidiaries offers a full range of banking, commercial and residential lending, and trust and investment management services to its domestic and international clientele with a commitment to exceptional service. In the city of Boston, Boston Private Bank & Trust Company offers a First Time Homebuyer program, and “soft second” mortgage financing. Under its Accessible Banking program, the Bank is an active provider of real estate financing for affordable housing, economic development, and small businesses. “
Several other equities research analysts have also recently weighed in on BPFH. BidaskClub cut Boston Private Financial from a hold rating to a sell rating in a report on Tuesday, July 24th. BMO Capital Markets dropped their price objective on Boston Private Financial from $17.00 to $15.00 and set a market perform rating for the company in a report on Tuesday, July 24th. ValuEngine cut Boston Private Financial from a hold rating to a sell rating in a report on Wednesday, July 25th. Finally, TheStreet cut Boston Private Financial from a b- rating to a c+ rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. Boston Private Financial currently has a consensus rating of Hold and an average price target of $16.00.
NASDAQ BPFH traded up $0.10 on Thursday, hitting $13.80. The company’s stock had a trading volume of 318,894 shares, compared to its average volume of 418,421. Boston Private Financial has a 52-week low of $12.50 and a 52-week high of $17.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $1.13 billion, a P/E ratio of 15.68 and a beta of 0.90.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings data on Wednesday, October 17th. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Boston Private Financial had a return on equity of 11.27% and a net margin of 6.76%. The business had revenue of $91.96 million during the quarter, compared to analysts’ expectations of $92.03 million. During the same quarter last year, the business posted $0.22 EPS. Sell-side analysts predict that Boston Private Financial will post 0.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, November 1st. Boston Private Financial’s payout ratio is presently 54.55%.
In other news, insider George G. Schwartz sold 6,205 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $14.20, for a total value of $88,111.00. Following the completion of the transaction, the insider now owns 152,557 shares in the company, valued at approximately $2,166,309.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.11% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Boston Private Financial in the 2nd quarter valued at approximately $283,000. Tower Research Capital LLC TRC lifted its stake in shares of Boston Private Financial by 17,205.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,305 shares of the bank’s stock valued at $275,000 after purchasing an additional 17,205 shares during the period. Northern Trust Corp lifted its stake in shares of Boston Private Financial by 1.2% in the 2nd quarter. Northern Trust Corp now owns 1,722,152 shares of the bank’s stock valued at $27,383,000 after purchasing an additional 20,085 shares during the period. GSA Capital Partners LLP purchased a new position in Boston Private Financial during the second quarter valued at $411,000. Finally, Legal & General Group Plc raised its stake in Boston Private Financial by 5.2% during the second quarter. Legal & General Group Plc now owns 183,906 shares of the bank’s stock valued at $2,932,000 after buying an additional 9,155 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.
About Boston Private Financial
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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