Boston Private Financial (BPFH) Upgraded by BidaskClub to Sell

Boston Private Financial (NASDAQ:BPFH) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Monday.

Several other research analysts also recently commented on BPFH. ValuEngine downgraded Boston Private Financial from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Zacks Investment Research upgraded Boston Private Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, June 19th. BMO Capital Markets reduced their price objective on Boston Private Financial from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Tuesday, July 24th. Finally, TheStreet downgraded Boston Private Financial from a “b-” rating to a “c+” rating in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.80.

Shares of BPFH stock opened at $14.03 on Monday. Boston Private Financial has a 52-week low of $13.20 and a 52-week high of $17.85. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $1.15 billion, a P/E ratio of 15.94 and a beta of 0.90.

Boston Private Financial (NASDAQ:BPFH) last issued its quarterly earnings results on Wednesday, July 18th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The business had revenue of $89.64 million for the quarter, compared to the consensus estimate of $92.53 million. Boston Private Financial had a return on equity of 10.48% and a net margin of 6.97%. During the same period in the prior year, the business posted $0.27 earnings per share. Research analysts expect that Boston Private Financial will post 0.94 EPS for the current year.

In other Boston Private Financial news, insider George G. Schwartz sold 6,205 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $14.20, for a total transaction of $88,111.00. Following the transaction, the insider now directly owns 152,557 shares in the company, valued at approximately $2,166,309.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen M. Waters sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $14.40, for a total value of $72,000.00. Following the transaction, the director now owns 24,093 shares in the company, valued at $346,939.20. The disclosure for this sale can be found here. 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 business. State of Alaska Department of Revenue increased its holdings in shares of Boston Private Financial by 9.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 41,140 shares of the bank’s stock valued at $653,000 after acquiring an additional 3,630 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in shares of Boston Private Financial by 14.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 29,365 shares of the bank’s stock valued at $467,000 after acquiring an additional 3,653 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Boston Private Financial by 29.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,738 shares of the bank’s stock valued at $298,000 after acquiring an additional 4,311 shares during the period. UBS Group AG increased its holdings in shares of Boston Private Financial by 63.6% in the 1st quarter. UBS Group AG now owns 17,982 shares of the bank’s stock valued at $271,000 after acquiring an additional 6,989 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Boston Private Financial by 12.5% in the 1st quarter. Russell Investments Group Ltd. now owns 76,277 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 8,483 shares during the period. Institutional investors own 92.71% of the company’s stock.

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. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.

Further Reading: Diversification Important in Investing

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