Short Interest in Boston Private Financial Hldg Inc (NASDAQ:BPFH) Increases By 18.9%

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Boston Private Financial Hldg Inc (NASDAQ:BPFH) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,450,000 shares, a growth of 18.9% from the December 15th total of 1,220,000 shares. Based on an average daily trading volume, of 465,800 shares, the short-interest ratio is currently 3.1 days. Currently, 1.8% of the company’s stock are sold short.

NASDAQ BPFH opened at $12.17 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.99. Boston Private Financial has a 12-month low of $9.77 and a 12-month high of $12.37. The company has a market capitalization of $1.01 billion, a PE ratio of 12.24 and a beta of 1.14. The firm’s 50 day moving average is $11.85 and its 200-day moving average is $11.48.

Boston Private Financial (NASDAQ:BPFH) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Boston Private Financial had a net margin of 22.40% and a return on equity of 10.15%. The company had revenue of $81.28 million for the quarter, compared to the consensus estimate of $82.40 million. During the same period last year, the company earned $0.25 earnings per share. As a group, sell-side analysts expect that Boston Private Financial will post 0.94 EPS for the current year.

Several brokerages have commented on BPFH. Zacks Investment Research upgraded shares of Boston Private Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine downgraded shares of Boston Private Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, BidaskClub upgraded shares of Boston Private Financial from a “hold” rating to a “buy” rating in a report on Friday, December 13th.

In other Boston Private Financial news, EVP W. Timothy Macdonald sold 20,546 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 approximately $1,280,823.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.87% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Boston Private Financial by 0.8% in the second quarter. Vanguard Group Inc. now owns 9,287,940 shares of the bank’s stock valued at $112,105,000 after purchasing an additional 75,868 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Boston Private Financial by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 2,618,897 shares of the bank’s stock valued at $31,610,000 after purchasing an additional 176,682 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Boston Private Financial by 1.3% in the second quarter. Northern Trust Corp now owns 1,660,378 shares of the bank’s stock valued at $20,041,000 after purchasing an additional 20,942 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Boston Private Financial by 2.2% in the second quarter. Invesco Ltd. now owns 1,634,578 shares of the bank’s stock valued at $19,729,000 after purchasing an additional 34,514 shares during the last quarter. Finally, Select Equity Group L.P. raised its holdings in shares of Boston Private Financial by 71.2% in the third quarter. Select Equity Group L.P. now owns 1,518,550 shares of the bank’s stock valued at $17,699,000 after purchasing an additional 631,500 shares during the last quarter. Institutional investors own 93.03% 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.

Further Reading: Different Types of Derivatives

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