Zacks Investment Research cut shares of Boston Private Financial (NASDAQ:BPFH) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.
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. “
Other analysts have also issued research reports about the company. ValuEngine lowered Boston Private Financial from a hold rating to a sell rating in a research note on Wednesday, November 6th. TheStreet downgraded shares of Boston Private Financial from a b- rating to a c+ rating in a research note on Friday, August 23rd. Finally, BidaskClub upgraded shares of Boston Private Financial from a hold rating to a buy rating in a report on Thursday, September 12th.
Shares of Boston Private Financial stock opened at $11.29 on Wednesday. Boston Private Financial has a 1 year low of $9.77 and a 1 year high of $12.37. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day moving average price of $11.54 and a 200 day moving average price of $11.29. The company has a market capitalization of $939.80 million, a P/E ratio of 11.64 and a beta of 1.13.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Boston Private Financial had a return on equity of 10.15% and a net margin of 22.40%. The company had revenue of $81.28 million during the quarter, compared to the consensus estimate of $82.40 million. During the same quarter last year, the business posted $0.25 earnings per share. As a group, research analysts expect that Boston Private Financial will post 0.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.48 annualized dividend and a yield of 4.25%. Boston Private Financial’s payout ratio is currently 49.48%.
In other Boston Private Financial news, EVP W. Timothy Macdonald sold 20,546 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total value of $231,142.50. Following the completion of the transaction, the executive vice president now directly owns 113,851 shares in the company, valued at approximately $1,280,823.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.87% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of BPFH. Russell Investments Group Ltd. increased its stake in shares of Boston Private Financial by 25.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 103,173 shares of the bank’s stock valued at $1,214,000 after acquiring an additional 21,020 shares during the last quarter. Strs Ohio increased its position in Boston Private Financial by 131.3% during the second quarter. Strs Ohio now owns 29,600 shares of the bank’s stock worth $357,000 after purchasing an additional 16,800 shares during the last quarter. Select Equity Group L.P. increased its position in Boston Private Financial by 71.2% during the third quarter. Select Equity Group L.P. now owns 1,518,550 shares of the bank’s stock worth $17,699,000 after purchasing an additional 631,500 shares during the last quarter. Bank of Montreal Can increased its position in Boston Private Financial by 2.1% during the second quarter. Bank of Montreal Can now owns 180,959 shares of the bank’s stock worth $2,184,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Boston Private Financial by 1.3% during the second quarter. Northern Trust Corp now owns 1,660,378 shares of the bank’s stock worth $20,041,000 after purchasing an additional 20,942 shares during the period. 93.07% of the stock is currently owned by hedge funds and other institutional investors.
Boston Private Financial Company 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. It operates in three segments: Private Banking, Wealth Management and Trust, and Affiliate Partners. The company accepts deposit products, such as checking accounts, savings and NOW accounts, money market accounts, and certificates of deposit.
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