Millennium Management LLC grew its position in shares of Boston Private Financial Hldg Inc (NASDAQ:BPFH) by 3,367.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 796,240 shares of the bank’s stock after buying an additional 773,275 shares during the period. Millennium Management LLC owned 0.96% of Boston Private Financial worth $9,280,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Boston Private Financial in the 3rd quarter worth about $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Boston Private Financial during the third quarter valued at about $30,000. Public Employees Retirement System of Ohio lifted its holdings in Boston Private Financial by 47.8% during the third quarter. Public Employees Retirement System of Ohio now owns 2,807 shares of the bank’s stock valued at $33,000 after purchasing an additional 908 shares during the last quarter. Allianz Asset Management GmbH bought a new position in Boston Private Financial during the second quarter worth about $142,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Boston Private Financial during the second quarter worth about $150,000. 93.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ BPFH opened at $11.29 on Friday. The stock has a market cap of $933.14 million, a PE ratio of 11.32 and a beta of 1.13. Boston Private Financial Hldg Inc has a fifty-two week low of $9.77 and a fifty-two week high of $12.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day moving average of $11.54 and a 200-day moving average of $11.29.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $81.28 million for the quarter, compared to analyst estimates of $82.40 million. Boston Private Financial had a return on equity of 10.15% and a net margin of 22.40%. During the same period in the previous year, the company posted $0.25 EPS. On average, sell-side analysts predict that Boston Private Financial Hldg Inc will post 0.94 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Thursday, November 7th. Boston Private Financial’s payout ratio is presently 49.48%.
In other news, EVP W. Timothy Macdonald sold 20,546 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total transaction of $231,142.50. Following the sale, the executive vice president now directly owns 113,851 shares in the company, valued at $1,280,823.75. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.87% of the stock is owned by insiders.
Several analysts have recently issued reports on the stock. BidaskClub lowered shares of Boston Private Financial from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet lowered shares of Boston Private Financial from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. ValuEngine cut shares of Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Zacks Investment Research downgraded shares of Boston Private Financial from a “hold” rating to a “sell” rating in a report on Wednesday.
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. 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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