Boston Private Financial Hldg Inc (BPFH) Expected to Announce Quarterly Sales of $90.75 Million

Wall Street brokerages predict that Boston Private Financial Hldg Inc (NASDAQ:BPFH) will announce sales of $90.75 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Boston Private Financial’s earnings, with estimates ranging from $90.30 million to $91.20 million. Boston Private Financial reported sales of $90.15 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.7%. The business is expected to report its next quarterly earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Boston Private Financial will report full year sales of $90.75 million for the current fiscal year, with estimates ranging from $376.00 million to $379.30 million. For the next fiscal year, analysts expect that the company will post sales of $401.80 million per share, with estimates ranging from $399.70 million to $403.30 million. Zacks’ sales averages are an average based on a survey of research firms that cover Boston Private Financial.

Boston Private Financial (NASDAQ:BPFH) last posted its quarterly earnings data on Wednesday, January 17th. The bank reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The company had revenue of $96.45 million during the quarter, compared to the consensus estimate of $100.07 million. Boston Private Financial had a return on equity of 9.95% and a net margin of 9.58%. During the same quarter last year, the company posted $0.24 earnings per share.

Several analysts have issued reports on BPFH shares. SunTrust Banks set a $17.00 target price on Boston Private Financial and gave the stock a “hold” rating in a research note on Friday, November 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $16.50 target price on shares of Boston Private Financial in a research note on Friday, December 22nd. Zacks Investment Research lowered Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. BidaskClub lowered Boston Private Financial from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Sandler O’Neill set a $17.00 target price on Boston Private Financial and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.50.

Boston Private Financial (NASDAQ:BPFH) traded up $0.25 during mid-day trading on Friday, hitting $14.95. 392,674 shares of the company traded hands, compared to its average volume of 433,986. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $1,242.08, a PE ratio of 34.30 and a beta of 1.02. Boston Private Financial has a one year low of $13.95 and a one year high of $17.88.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, February 1st. This is a positive change from Boston Private Financial’s previous quarterly dividend of $0.11. Boston Private Financial’s dividend payout ratio is 111.63%.

In related news, EVP W. Timothy Macdonald acquired 12,483 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was purchased at an average price of $15.32 per share, with a total value of $191,239.56. Following the completion of the purchase, the executive vice president now owns 71,052 shares in the company, valued at approximately $1,088,516.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Morton III sold 35,057 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $15.46, for a total value of $541,981.22. Following the sale, the director now directly owns 42,512 shares of the company’s stock, valued at approximately $657,235.52. The disclosure for this sale can be found here. In the last three months, insiders have bought 26,312 shares of company stock valued at $402,369. Insiders own 2.07% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Boston Private Financial by 2.0% during the second quarter. Vanguard Group Inc. now owns 7,743,515 shares of the bank’s stock valued at $118,863,000 after purchasing an additional 152,086 shares during the period. State Street Corp boosted its stake in shares of Boston Private Financial by 8.0% during the second quarter. State Street Corp now owns 2,916,019 shares of the bank’s stock valued at $44,759,000 after purchasing an additional 216,580 shares during the period. Royce & Associates LP boosted its stake in shares of Boston Private Financial by 12.3% during the third quarter. Royce & Associates LP now owns 962,806 shares of the bank’s stock valued at $15,934,000 after purchasing an additional 105,316 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Boston Private Financial by 8.5% during the second quarter. Wells Fargo & Company MN now owns 90,884 shares of the bank’s stock valued at $1,395,000 after purchasing an additional 7,153 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Boston Private Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,315,058 shares of the bank’s stock valued at $87,964,000 after purchasing an additional 27,894 shares during the period. 90.95% of the stock is owned by hedge funds and other institutional investors.

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Boston Private Financial Company Profile

Boston Private Financial Holdings, Inc is the bank holding company of Boston Private Bank & Trust Company. The Company offers private banking and wealth management services to high net worth individuals, families, businesses and select institutions. Its segments include Private Banking, Wealth Management and Trust, Investment Management and Wealth Advisory.

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Earnings History and Estimates for Boston Private Financial (NASDAQ:BPFH)

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