Zacks Investment Research Downgrades Boston Private Financial (BPFH) to Sell

Boston Private Financial (NASDAQ:BPFH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

Several other equities analysts have also recently issued reports on the company. BidaskClub upgraded Boston Private Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 25th. ValuEngine cut Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Boston Private Financial has an average rating of “Sell” and an average target price of $15.33.

NASDAQ BPFH traded down $0.04 during trading on Friday, hitting $10.93. The stock had a trading volume of 412,500 shares, compared to its average volume of 336,313. The company has a market cap of $934.90 million, a P/E ratio of 12.42 and a beta of 0.94. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.98. Boston Private Financial has a twelve month low of $10.00 and a twelve month high of $17.85.

Boston Private Financial (NASDAQ:BPFH) last released its earnings results on Wednesday, October 17th. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $91.96 million during the quarter, compared to the consensus estimate of $92.03 million. Boston Private Financial had a return on equity of 11.27% and a net margin of 6.76%. During the same period in the previous year, the company posted $0.22 EPS. On average, analysts anticipate that Boston Private Financial will post 0.93 EPS for the current fiscal year.

In related news, CEO David J. Kaye sold 27,498 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $13.05, for a total transaction of $358,848.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony Dechellis bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were acquired at an average price of $12.65 per share, with a total value of $253,000.00. Following the purchase, the chief executive officer now owns 141,879 shares of the company’s stock, valued at $1,794,769.35. The disclosure for this purchase can be found here. Company insiders own 2.11% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BPFH. Alpine Woods Capital Investors LLC purchased a new stake in Boston Private Financial during the third quarter worth approximately $232,000. SG Americas Securities LLC purchased a new stake in Boston Private Financial during the second quarter worth approximately $255,000. Tower Research Capital LLC TRC lifted its stake in Boston Private Financial by 17,205.0% during the second quarter. Tower Research Capital LLC TRC now owns 17,305 shares of the bank’s stock worth $275,000 after purchasing an additional 17,205 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Boston Private Financial by 21.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 22,693 shares of the bank’s stock worth $310,000 after purchasing an additional 3,955 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Boston Private Financial during the third quarter worth approximately $396,000. Hedge funds and other institutional investors own 93.44% 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. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.

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