Boston Private Financial (BPFH) Downgraded by BidaskClub to Strong Sell

BidaskClub cut shares of Boston Private Financial (NASDAQ:BPFH) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

A number of other research analysts have also recently weighed in on BPFH. Zacks Investment Research raised shares of Boston Private Financial from a sell rating to a hold rating in a research report on Friday, January 18th. ValuEngine cut shares of Boston Private Financial from a sell rating to a strong sell rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $14.00.

BPFH opened at $11.28 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.02 and a current ratio of 1.02. Boston Private Financial has a 1 year low of $10.00 and a 1 year high of $17.85. The company has a market capitalization of $945.01 million, a P/E ratio of 11.63 and a beta of 0.96.

Boston Private Financial (NASDAQ:BPFH) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $82.62 million for the quarter, compared to analysts’ expectations of $85.15 million. Boston Private Financial had a net margin of 18.42% and a return on equity of 10.87%. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, equities research analysts anticipate that Boston Private Financial will post 0.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a dividend of $0.12 per share. The ex-dividend date was Thursday, May 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 4.26%. Boston Private Financial’s dividend payout ratio (DPR) is 49.48%.

A number of hedge funds have recently made changes to their positions in BPFH. Boston Partners acquired a new position in Boston Private Financial during the fourth quarter valued at approximately $17,234,000. Norges Bank acquired a new position in Boston Private Financial during the fourth quarter valued at approximately $10,546,000. Bank of New York Mellon Corp lifted its position in Boston Private Financial by 52.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,404,665 shares of the bank’s stock valued at $25,417,000 after buying an additional 822,271 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Boston Private Financial by 92.0% during the first quarter. Renaissance Technologies LLC now owns 796,672 shares of the bank’s stock worth $8,732,000 after purchasing an additional 381,700 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of Boston Private Financial during the fourth quarter worth $32,000. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

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. 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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