Zacks Investment Research cut shares of Boston Private Financial (NASDAQ:BPFH) from a hold rating to a sell rating in a research note published on Tuesday morning.
According to Zacks, “Boston Private Bancorp, through its subsidiaries offers a full range of banking, commercial and residential lending, and trust and investment management services to its domestic and international clientele with a commitment to exceptional service. In the city of Boston, Boston Private Bank & Trust Company offers a First Time Homebuyer program, and “soft second” mortgage financing. Under its Accessible Banking program, the Bank is an active provider of real estate financing for affordable housing, economic development, and small businesses. “
A number of other equities research analysts have also commented on the stock. ValuEngine raised shares of Boston Private Financial from a hold rating to a buy rating in a research note on Wednesday, March 7th. BidaskClub raised shares of Boston Private Financial from a sell rating to a hold rating in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $16.00 price objective on shares of Boston Private Financial in a research note on Friday, January 19th. Sandler O’Neill set a $17.00 target price on shares of Boston Private Financial and gave the stock a hold rating in a research note on Wednesday, January 3rd. Finally, SunTrust Banks set a $17.00 target price on shares of Boston Private Financial and gave the stock a hold rating in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $16.50.
Boston Private Financial (NASDAQ:BPFH) last posted its quarterly earnings data on Wednesday, January 17th. The bank reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Boston Private Financial had a net margin of 9.58% and a return on equity of 9.95%. The firm had revenue of $96.45 million during the quarter, compared to the consensus estimate of $100.07 million. During the same period in the prior year, the company posted $0.24 earnings per share. sell-side analysts anticipate that Boston Private Financial will post 0.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 1st. This is a positive change from Boston Private Financial’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 3.09%. Boston Private Financial’s dividend payout ratio is currently 111.63%.
In other Boston Private Financial news, Director John Morton III sold 35,057 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $15.46, for a total transaction of $541,981.22. Following the transaction, the director now owns 42,512 shares in the company, valued at $657,235.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP W. Timothy Macdonald acquired 6,943 shares of the stock in a transaction on Wednesday, February 21st. The shares were acquired at an average price of $15.14 per share, for a total transaction of $105,117.02. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 33,255 shares of company stock worth $507,486. 2.07% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Boston Private Financial by 5.4% during the fourth quarter. BlackRock Inc. now owns 11,171,967 shares of the bank’s stock worth $172,607,000 after buying an additional 575,050 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 worth $87,964,000 after buying an additional 27,894 shares during the last quarter. Standard Life Aberdeen plc raised its holdings in Boston Private Financial by 9.5% during the fourth quarter. Standard Life Aberdeen plc now owns 4,016,809 shares of the bank’s stock worth $62,060,000 after buying an additional 349,673 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Boston Private Financial by 16.0% during the third quarter. Macquarie Group Ltd. now owns 3,300,725 shares of the bank’s stock worth $54,627,000 after buying an additional 454,411 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Boston Private Financial by 1.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,895,861 shares of the bank’s stock worth $44,741,000 after buying an additional 40,781 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.
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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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