Blue Hills Bancorp Inc (BHBK) to Post FY2018 Earnings of $0.98 Per Share, Piper Jaffray Companies Forecasts

Blue Hills Bancorp Inc (NASDAQ:BHBK) – Piper Jaffray Companies dropped their FY2018 earnings estimates for Blue Hills Bancorp in a research report issued to clients and investors on Friday, November 2nd. Piper Jaffray Companies analyst M. Breese now expects that the bank will post earnings of $0.98 per share for the year, down from their prior estimate of $1.00. Piper Jaffray Companies currently has a “Neutral” rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Blue Hills Bancorp from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Tuesday, July 31st. ValuEngine upgraded shares of Blue Hills Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Keefe, Bruyette & Woods raised shares of Blue Hills Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $23.50 to $27.18 in a research note on Friday, November 2nd. Finally, BidaskClub lowered shares of Blue Hills Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.89.

Shares of NASDAQ BHBK opened at $23.58 on Monday. The stock has a market capitalization of $633.53 million, a PE ratio of 42.11 and a beta of 0.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 1.02. Blue Hills Bancorp has a fifty-two week low of $18.45 and a fifty-two week high of $25.80.

Blue Hills Bancorp (NASDAQ:BHBK) last announced its quarterly earnings data on Wednesday, October 24th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Blue Hills Bancorp had a return on equity of 5.72% and a net margin of 17.82%. The firm had revenue of $23.32 million for the quarter, compared to analyst estimates of $23.00 million.

A number of large investors have recently modified their holdings of BHBK. Wells Fargo & Company MN grew its holdings in Blue Hills Bancorp by 7.1% in the 3rd quarter. Wells Fargo & Company MN now owns 38,709 shares of the bank’s stock worth $932,000 after acquiring an additional 2,558 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Blue Hills Bancorp during the third quarter valued at approximately $1,826,000. Anchor Capital Advisors LLC raised its holdings in shares of Blue Hills Bancorp by 68.6% during the third quarter. Anchor Capital Advisors LLC now owns 54,329 shares of the bank’s stock valued at $1,309,000 after purchasing an additional 22,110 shares during the last quarter. ARP Americas LP purchased a new stake in Blue Hills Bancorp during the third quarter valued at approximately $2,954,000. Finally, First Trust Advisors LP increased its holdings in Blue Hills Bancorp by 110.1% during the third quarter. First Trust Advisors LP now owns 79,775 shares of the bank’s stock valued at $1,923,000 after buying an additional 41,804 shares during the last quarter. Institutional investors own 53.11% of the company’s stock.

About Blue Hills Bancorp

Blue Hills Bancorp, Inc operates as the bank holding company for Blue Hills Bank that provides financial services to individuals, families, small to mid-size businesses, government, and non-profit organizations in Massachusetts. The company accepts passbook and statement savings, money market, commercial and regular checking, as well as certificates of deposit and IRAs.

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Earnings History and Estimates for Blue Hills Bancorp (NASDAQ:BHBK)

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