Boston Private Financial Hldg Inc (NASDAQ:BPFH) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Friday, August 7th will be given a dividend of 0.06 per share by the bank on Friday, August 21st. This represents a $0.24 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Thursday, August 6th.
Boston Private Financial has increased its dividend payment by an average of 20.0% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Boston Private Financial has a dividend payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Boston Private Financial to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 80.0%.
Shares of NASDAQ BPFH traded down $0.22 during trading hours on Thursday, reaching $5.93. 12,420 shares of the stock traded hands, compared to its average volume of 480,585. The company’s 50-day simple moving average is $6.38 and its two-hundred day simple moving average is $8.18. The company has a market capitalization of $480.98 million, a P/E ratio of 12.36 and a beta of 1.12. Boston Private Financial has a 52-week low of $5.18 and a 52-week high of $13.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.86.
In other Boston Private Financial news, Director Lizabeth H. Zlatkus purchased 10,000 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $6.95 per share, with a total value of $69,500.00. Following the completion of the acquisition, the director now directly owns 40,040 shares in the company, valued at approximately $278,278. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP W. Timothy Macdonald sold 4,905 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $6.66, for a total value of $32,667.30. Following the sale, the executive vice president now owns 102,306 shares of the company’s stock, valued at $681,357.96. The disclosure for this sale can be found here. Over the last three months, insiders bought 26,136 shares of company stock worth $179,042. Insiders own 0.82% of the company’s stock.
Several analysts have weighed in on the company. SunTrust Banks boosted their price objective on Boston Private Financial from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Wedbush assumed coverage on Boston Private Financial in a research note on Monday, April 6th. They set a “neutral” rating and a $8.50 target price on the stock. Zacks Investment Research raised Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 1st. BidaskClub cut Boston Private Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 11th. Finally, Keefe, Bruyette & Woods cut Boston Private Financial from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $10.00 to $9.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Boston Private Financial currently has a consensus rating of “Hold” and an average price target of $8.83.
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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