Zacks: Analysts Expect Boston Private Financial Hldg Inc (BPFH) Will Announce Quarterly Sales of $92.03 Million

Analysts forecast that Boston Private Financial Hldg Inc (NASDAQ:BPFH) will announce sales of $92.03 million for the current quarter, according to Zacks. Three analysts have made estimates for Boston Private Financial’s earnings, with estimates ranging from $90.50 million to $92.80 million. Boston Private Financial posted sales of $96.89 million during the same quarter last year, which would indicate a negative year over year growth rate of 5%. The company is expected to issue its next earnings report after the market closes on Wednesday, October 17th.

According to Zacks, analysts expect that Boston Private Financial will report full-year sales of $372.17 million for the current fiscal year, with estimates ranging from $368.50 million to $375.10 million. For the next year, analysts forecast that the business will post sales of $381.20 million, with estimates ranging from $373.50 million to $390.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Boston Private Financial.

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

BPFH has been the subject of a number of research reports. ValuEngine cut Boston Private Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. BidaskClub cut Boston Private Financial from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 13th. Zacks Investment Research raised Boston Private Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, June 19th. BMO Capital Markets lowered their price target on Boston Private Financial from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Tuesday, July 24th. Finally, TheStreet cut Boston Private Financial from a “b-” rating to a “c+” rating in a research 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. The stock has a consensus rating of “Hold” and a consensus price target of $16.80.

Shares of BPFH opened at $14.25 on Tuesday. Boston Private Financial has a one year low of $13.20 and a one year high of $17.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.58. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 16.19 and a beta of 0.90.

In other news, Director Stephen M. Waters sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $14.40, for a total value of $72,000.00. Following the completion of the transaction, the director now owns 24,093 shares of the company’s stock, valued at approximately $346,939.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider George G. Schwartz sold 6,205 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were 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 directly owns 152,557 shares of the company’s stock, valued at approximately $2,166,309.40. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Boston Private Financial in the 2nd quarter valued at about $283,000. Principal Financial Group Inc. raised its holdings in Boston Private Financial by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 645,870 shares of the bank’s stock worth $9,720,000 after purchasing an additional 15,492 shares during the period. GSA Capital Partners LLP acquired a new position in Boston Private Financial in the 2nd quarter worth about $411,000. Schwab Charles Investment Management Inc. raised its holdings in Boston Private Financial by 11.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 651,509 shares of the bank’s stock worth $9,806,000 after purchasing an additional 67,432 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Boston Private Financial in the 2nd quarter worth about $439,000. 92.71% of the stock is owned by institutional investors and hedge funds.

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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