Boston Private Financial (NASDAQ:BPFH) Rating Lowered to Sell at Zacks Investment Research

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Boston Private Financial (NASDAQ:BPFH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Other analysts have also recently issued research reports about the stock. TheStreet cut shares of Boston Private Financial from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. ValuEngine cut Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, BidaskClub raised Boston Private Financial from a “hold” rating to a “buy” rating in a report on Thursday, September 12th.

BPFH opened at $11.21 on Wednesday. The company’s 50 day moving average is $11.54 and its 200-day moving average is $11.29. Boston Private Financial has a 1-year low of $9.77 and a 1-year high of $12.37. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.99. The company has a market cap of $933.14 million, a P/E ratio of 11.56 and a beta of 1.13.

Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $81.28 million during the quarter, compared to analysts’ expectations of $82.40 million. Boston Private Financial had a net margin of 22.40% and a return on equity of 10.15%. During the same period in the prior year, the company earned $0.25 EPS. On average, equities analysts forecast that Boston Private Financial will post 0.94 EPS for the current year.

In other news, EVP W. Timothy Macdonald sold 20,546 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total transaction of $231,142.50. Following the sale, the executive vice president now directly owns 113,851 shares in the company, valued at $1,280,823.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BPFH. Strs Ohio boosted its position in Boston Private Financial by 131.3% during the 2nd quarter. Strs Ohio now owns 29,600 shares of the bank’s stock worth $357,000 after buying an additional 16,800 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Boston Private Financial during the second quarter worth $150,000. Bailard Inc. lifted its holdings in shares of Boston Private Financial by 87.6% during the second quarter. Bailard Inc. now owns 31,900 shares of the bank’s stock worth $385,000 after purchasing an additional 14,900 shares during the period. First Trust Advisors LP grew its stake in shares of Boston Private Financial by 75.7% in the second quarter. First Trust Advisors LP now owns 183,781 shares of the bank’s stock worth $2,218,000 after purchasing an additional 79,202 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Boston Private Financial in the second quarter worth $1,735,000. Institutional investors and hedge funds own 93.07% of the company’s stock.

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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