Boston Private Financial Hldg Inc (BPFH) to Issue Quarterly Dividend of $0.06 on August 21st

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.

Boston Private Financial (NASDAQ:BPFH) last released its earnings results on Tuesday, July 28th. The bank reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.10). Boston Private Financial had a return on equity of 4.74% and a net margin of 10.37%. The firm had revenue of $81.60 million during the quarter, compared to the consensus estimate of $80.76 million. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, sell-side analysts forecast that Boston Private Financial will post 0.45 earnings per share for the current fiscal year.

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.

Read More: Gross Domestic Product (GDP)

Dividend History for Boston Private Financial (NASDAQ:BPFH)

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