Boston Private Financial (BPFH) Lowered to “Strong Sell” at BidaskClub

Boston Private Financial (NASDAQ:BPFH) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, October 2nd.

BPFH has been the subject of several other reports. BMO Capital Markets dropped their price target on Boston Private Financial from $17.00 to $15.00 and set a “market perform” rating for the company in a report on Tuesday, July 24th. TheStreet cut Boston Private Financial from a “b-” rating to a “c+” rating in a report on Thursday, August 9th. ValuEngine cut Boston Private Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Finally, Zacks Investment Research raised Boston Private Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Boston Private Financial currently has an average rating of “Hold” and an average price target of $16.80.

BPFH stock opened at $14.25 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 16.19 and a beta of 0.90. Boston Private Financial has a twelve month low of $13.20 and a twelve month high of $17.85.

Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings data on Wednesday, July 18th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). Boston Private Financial had a net margin of 6.97% and a return on equity of 10.48%. The business had revenue of $89.64 million during the quarter, compared to analyst estimates of $92.53 million. During the same period in the previous year, the business earned $0.27 earnings per share. On average, research analysts predict that Boston Private Financial will post 0.94 earnings per share for the current fiscal year.

In related news, Director Stephen M. Waters sold 5,000 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $14.40, for a total transaction of $72,000.00. Following the sale, the director now owns 24,093 shares in the company, valued at approximately $346,939.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider George G. Schwartz sold 6,205 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $14.20, for a total value of $88,111.00. Following the sale, the insider now owns 152,557 shares in the company, valued at approximately $2,166,309.40. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPFH. Wells Fargo & Company MN grew its position in shares of Boston Private Financial by 5.9% in the 1st quarter. Wells Fargo & Company MN now owns 158,791 shares of the bank’s stock valued at $2,389,000 after buying an additional 8,807 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Boston Private Financial by 11.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 651,509 shares of the bank’s stock valued at $9,806,000 after buying an additional 67,432 shares during the last quarter. Northern Trust Corp grew its position in shares of Boston Private Financial by 1.0% in the 1st quarter. Northern Trust Corp now owns 1,702,067 shares of the bank’s stock valued at $25,616,000 after buying an additional 16,838 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Boston Private Financial by 5.1% in the 1st quarter. BlackRock Inc. now owns 11,739,374 shares of the bank’s stock valued at $176,678,000 after purchasing an additional 567,407 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Boston Private Financial in the 1st quarter valued at about $217,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

About Boston Private Financial

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. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.

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