Blue Hills Bancorp Inc (BHBK) Receives $27.18 Consensus PT from Brokerages

Shares of Blue Hills Bancorp Inc (NASDAQ:BHBK) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $27.18.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Blue Hills Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Monday, February 11th. BidaskClub downgraded Blue Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Finally, ValuEngine downgraded Blue Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th.

Blue Hills Bancorp stock opened at $23.90 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $643.15 million, a P/E ratio of 23.20 and a beta of 0.41. Blue Hills Bancorp has a twelve month low of $20.00 and a twelve month high of $25.80.

Blue Hills Bancorp (NASDAQ:BHBK) last posted its quarterly earnings results on Wednesday, January 23rd. The bank reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $22.20 million for the quarter, compared to the consensus estimate of $19.80 million. Blue Hills Bancorp had a return on equity of 6.48% and a net margin of 20.98%. On average, analysts expect that Blue Hills Bancorp will post 1.16 EPS for the current fiscal year.

In related news, Director Scott Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $23.13, for a total value of $69,390.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Driscoll sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $24.77, for a total value of $123,850.00. The disclosure for this sale can be found here. Insiders sold a total of 117,337 shares of company stock worth $2,836,261 over the last ninety days. 6.60% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BHBK. Legal & General Group Plc lifted its position in Blue Hills Bancorp by 15.9% in the 3rd quarter. Legal & General Group Plc now owns 3,983 shares of the bank’s stock valued at $96,000 after acquiring an additional 545 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Blue Hills Bancorp by 686.9% during the 1st quarter. Meeder Asset Management Inc. now owns 6,917 shares of the bank’s stock valued at $165,000 after buying an additional 6,038 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Blue Hills Bancorp by 416.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,540 shares of the bank’s stock valued at $182,000 after buying an additional 6,887 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Blue Hills Bancorp by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 9,446 shares of the bank’s stock valued at $202,000 after buying an additional 814 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Blue Hills Bancorp during the 4th quarter valued at $213,000. 54.04% of the stock is currently owned by institutional investors and hedge funds.

About Blue Hills Bancorp

Blue Hills Bancorp, Inc operates as the bank holding company for Blue Hills Bank that provides financial services to individuals, families, small to mid-size businesses, government, and non-profit organizations in Massachusetts. The company accepts passbook and statement savings, money market, and commercial and regular checking accounts, as well as certificates of deposit and IRAs.

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