Boston Private Financial (NASDAQ:BPFH) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Boston Private Financial (NASDAQ:BPFH) from a buy rating to a hold rating in a research report report published on Monday morning, 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. “

A number of other research firms have also issued reports on BPFH. BidaskClub raised shares of Boston Private Financial from a sell rating to a hold rating in a research note on Monday, June 17th. ValuEngine lowered shares of Boston Private Financial from a hold rating to a sell rating in a research note on Friday, July 26th. Finally, TheStreet raised shares of Boston Private Financial from a c+ rating to a b- rating in a research note on Friday, July 12th.

BPFH opened at $10.89 on Monday. The business has a 50-day moving average of $11.60. The company has a market cap of $976.84 million, a P/E ratio of 11.23 and a beta of 1.08. Boston Private Financial has a 1-year low of $10.00 and a 1-year high of $14.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.07 and a quick ratio of 1.07.

Boston Private Financial (NASDAQ:BPFH) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). The business had revenue of $81.84 million during the quarter, compared to analyst estimates of $85.25 million. Boston Private Financial had a net margin of 21.54% and a return on equity of 10.68%. During the same period last year, the firm posted $0.21 earnings per share. As a group, sell-side analysts expect that Boston Private Financial will post 1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Thursday, August 8th. Boston Private Financial’s dividend payout ratio is currently 49.48%.

Large investors have recently modified their holdings of the company. Piedmont Investment Advisors Inc. raised its holdings in shares of Boston Private Financial by 4.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 21,035 shares of the bank’s stock worth $231,000 after purchasing an additional 975 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of Boston Private Financial by 3.0% in the 1st quarter. Texas Permanent School Fund now owns 56,876 shares of the bank’s stock worth $623,000 after purchasing an additional 1,661 shares in the last quarter. Comerica Bank raised its holdings in shares of Boston Private Financial by 2.3% in the 1st quarter. Comerica Bank now owns 83,570 shares of the bank’s stock worth $949,000 after purchasing an additional 1,914 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Boston Private Financial by 12.9% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,267 shares of the bank’s stock worth $540,000 after purchasing an additional 5,610 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Boston Private Financial by 3.8% in the 4th quarter. Bank of America Corp DE now owns 246,842 shares of the bank’s stock worth $2,608,000 after purchasing an additional 9,112 shares in the last quarter. 90.89% of the stock is owned by institutional investors.

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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