Boston Private Financial (NASDAQ:BPFH) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Boston Private Financial (NASDAQ:BPFH) from a strong sell rating to a sell rating in a report issued on Wednesday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods downgraded Boston Private Financial from an outperform rating to a market perform rating and reduced their target price for the company from $10.00 to $9.00 in a report on Thursday, April 30th. Zacks Investment Research raised Boston Private Financial from a sell rating to a hold rating in a research note on Wednesday, July 1st. ValuEngine cut Boston Private Financial from a hold rating to a sell rating in a research report on Monday, August 3rd. Finally, SunTrust Banks increased their target price on shares of Boston Private Financial from $8.00 to $9.00 and gave the stock a hold rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $8.83.

Boston Private Financial stock traded up $0.10 during trading hours on Wednesday, reaching $6.32. 377,221 shares of the stock were exchanged, compared to its average volume of 531,702. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.78. Boston Private Financial has a twelve month low of $5.18 and a twelve month high of $13.08. The company has a market cap of $530.99 million, a P/E ratio of 13.45 and a beta of 1.05. The stock has a 50 day moving average of $6.16 and a two-hundred day moving average of $7.70.

Boston Private Financial (NASDAQ:BPFH) last issued its quarterly 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). The firm had revenue of $81.60 million for the quarter, compared to the consensus estimate of $80.76 million. Boston Private Financial had a return on equity of 4.73% and a net margin of 10.37%. During the same period last year, the company posted $0.22 EPS. On average, analysts expect that Boston Private Financial will post 0.4 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Thursday, August 6th. Boston Private Financial’s payout ratio is 25.00%.

In other news, EVP W. Timothy Macdonald sold 4,905 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $6.66, for a total transaction of $32,667.30. Following the transaction, the executive vice president now directly owns 102,306 shares of the company’s stock, valued at approximately $681,357.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its position in shares of Boston Private Financial by 115.5% in the first quarter. Versant Capital Management Inc now owns 3,618 shares of the bank’s stock valued at $25,000 after buying an additional 1,939 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Boston Private Financial in the 2nd quarter valued at $86,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Boston Private Financial by 145.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,122 shares of the bank’s stock worth $101,000 after acquiring an additional 8,371 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in Boston Private Financial in the 2nd quarter worth $102,000. Finally, Stone Ridge Asset Management LLC raised its position in Boston Private Financial by 11.0% during the second quarter. Stone Ridge Asset Management LLC now owns 19,096 shares of the bank’s stock worth $131,000 after acquiring an additional 1,900 shares during the period. 92.19% of the stock is owned by institutional investors.

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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