Blue Hills Bancorp (BHBK) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Blue Hills Bancorp (NASDAQ:BHBK) from a hold rating to a buy rating in a research note published on Tuesday.

BHBK has been the subject of a number of other reports. Zacks Investment Research raised Blue Hills Bancorp from a hold rating to a strong-buy rating and set a $25.00 price target for the company in a report on Tuesday, July 31st. Piper Jaffray Companies lowered Blue Hills Bancorp from an overweight rating to a neutral rating in a report on Tuesday, September 25th. ValuEngine raised Blue Hills Bancorp from a hold rating to a buy rating in a report on Thursday, October 11th. Finally, Keefe, Bruyette & Woods raised Blue Hills Bancorp from a market perform rating to an outperform rating and raised their price target for the stock from $23.50 to $27.18 in a report on Friday, November 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $24.89.

Shares of NASDAQ BHBK opened at $23.37 on Tuesday. Blue Hills Bancorp has a 1-year low of $18.45 and a 1-year high of $25.80. The firm has a market cap of $633.31 million, a price-to-earnings ratio of 41.73 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 (NASDAQ:BHBK) last announced its quarterly earnings data on Wednesday, October 24th. The bank reported $0.27 earnings per share for the quarter, beating the 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 business had revenue of $23.32 million during the quarter, compared to analyst estimates of $23.00 million. Analysts anticipate that Blue Hills Bancorp will post 0.98 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of BHBK. Candriam Luxembourg S.C.A. bought a new position in shares of Blue Hills Bancorp in the third quarter worth $3,470,000. Millennium Management LLC boosted its holdings in shares of Blue Hills Bancorp by 127.6% in the first quarter. Millennium Management LLC now owns 234,931 shares of the bank’s stock worth $4,898,000 after acquiring an additional 131,702 shares during the period. Hennessy Advisors Inc. bought a new position in shares of Blue Hills Bancorp in the third quarter worth $3,133,000. ARP Americas LP bought a new position in shares of Blue Hills Bancorp in the third quarter worth $2,954,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Blue Hills Bancorp by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 891,680 shares of the bank’s stock worth $18,592,000 after buying an additional 89,975 shares in the last quarter. 53.11% of the stock is owned by hedge funds and other institutional investors.

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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