Vanguard Group Inc lifted its position in shares of Boston Private Financial Hldg Inc (NASDAQ:BPFH) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,666,648 shares of the bank’s stock after purchasing an additional 173,007 shares during the period. Vanguard Group Inc owned 10.27% of Boston Private Financial worth $118,299,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC increased its stake in shares of Boston Private Financial by 9.6% during the second quarter. FMR LLC now owns 7,513,673 shares of the bank’s stock valued at $119,467,000 after purchasing an additional 656,820 shares in the last quarter. BlackRock Inc. increased its stake in shares of Boston Private Financial by 4.3% during the second quarter. BlackRock Inc. now owns 12,241,098 shares of the bank’s stock valued at $194,632,000 after purchasing an additional 501,724 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Boston Private Financial by 7.1% during the third quarter. Dimensional Fund Advisors LP now owns 5,644,672 shares of the bank’s stock valued at $77,049,000 after acquiring an additional 375,363 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Boston Private Financial by 105.2% during the third quarter. Citadel Advisors LLC now owns 613,120 shares of the bank’s stock valued at $8,369,000 after acquiring an additional 314,355 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Boston Private Financial by 24.4% during the third quarter. Bank of New York Mellon Corp now owns 1,582,394 shares of the bank’s stock valued at $21,598,000 after acquiring an additional 309,984 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.
Several equities research analysts recently weighed in on BPFH shares. Zacks Investment Research raised shares of Boston Private Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. BidaskClub raised shares of Boston Private Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th. Three analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Boston Private Financial has a consensus rating of “Sell” and an average target price of $15.00.
In other Boston Private Financial news, CEO Anthony Dechellis bought 20,000 shares of Boston Private Financial stock in a transaction dated Wednesday, November 28th. The shares were purchased at an average cost of $12.65 per share, for a total transaction of $253,000.00. Following the acquisition, the chief executive officer now directly owns 141,879 shares in the company, valued at approximately $1,794,769.35. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul M. Simons bought 10,560 shares of Boston Private Financial stock in a transaction dated Wednesday, December 12th. The stock was acquired at an average price of $11.35 per share, for a total transaction of $119,856.00. Following the completion of the acquisition, the executive vice president now owns 300 shares in the company, valued at $3,405. The disclosure for this purchase can be found here. 2.11% of the stock is owned by insiders.
Shares of BPFH traded up $0.05 during trading hours on Wednesday, reaching $11.63. 166,600 shares of the stock traded hands, compared to its average volume of 378,768. The stock has a market cap of $987.22 million, a price-to-earnings ratio of 11.99 and a beta of 0.98. Boston Private Financial Hldg Inc has a 52-week low of $10.00 and a 52-week high of $17.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.99 and a current ratio of 0.99.
Boston Private Financial (NASDAQ:BPFH) last announced its quarterly earnings results on Wednesday, January 30th. The bank reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $88.69 million for the quarter, compared to analysts’ expectations of $90.20 million. Boston Private Financial had a net margin of 18.89% and a return on equity of 11.04%. During the same quarter in the previous year, the company earned $0.22 EPS. On average, equities research analysts predict that Boston Private Financial Hldg Inc will post 0.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, February 7th. Boston Private Financial’s payout ratio is currently 49.48%.
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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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