Boston Private Financial Holdings, Inc. (BPFH) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Boston Private Financial Holdings, Inc. (NASDAQ:BPFH) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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 research analysts have also recently weighed in on the stock. BMO Capital Markets reiterated a hold rating and set a $15.00 price target on shares of Boston Private Financial Holdings in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reiterated a hold rating and set a $15.00 price target on shares of Boston Private Financial Holdings in a research note on Tuesday, October 3rd. ValuEngine cut shares of Boston Private Financial Holdings from a buy rating to a hold rating in a research note on Wednesday, September 6th. BidaskClub cut shares of Boston Private Financial Holdings from a hold rating to a sell rating in a research note on Saturday, August 19th. Finally, Jefferies Group LLC restated a hold rating and set a $17.00 target price on shares of Boston Private Financial Holdings in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Boston Private Financial Holdings presently has a consensus rating of Hold and an average price target of $15.40.

Shares of Boston Private Financial Holdings (NASDAQ BPFH) opened at 16.90 on Tuesday. Boston Private Financial Holdings has a one year low of $12.45 and a one year high of $17.88. The company has a market cap of $1.42 billion, a PE ratio of 19.91 and a beta of 1.09. The firm’s 50-day moving average is $15.40 and its 200-day moving average is $15.41.

Boston Private Financial Holdings (NASDAQ:BPFH) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The business had revenue of $94.37 million for the quarter, compared to analysts’ expectations of $95.70 million. Boston Private Financial Holdings had a net margin of 18.86% and a return on equity of 10.16%. On average, equities analysts anticipate that Boston Private Financial Holdings will post $0.90 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its stake in shares of Boston Private Financial Holdings by 0.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 34,300 shares of the bank’s stock valued at $527,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Boston Private Financial Holdings by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 43,911 shares of the bank’s stock valued at $674,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Boston Private Financial Holdings by 2.6% during the 2nd quarter. Amalgamated Bank now owns 11,386 shares of the bank’s stock valued at $175,000 after buying an additional 290 shares in the last quarter. Nationwide Fund Advisors lifted its stake in shares of Boston Private Financial Holdings by 0.6% during the 2nd quarter. Nationwide Fund Advisors now owns 70,809 shares of the bank’s stock valued at $1,087,000 after buying an additional 397 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Boston Private Financial Holdings by 0.7% during the 2nd quarter. Sei Investments Co. now owns 63,502 shares of the bank’s stock valued at $975,000 after buying an additional 472 shares in the last quarter. Institutional investors own 90.62% of the company’s stock.

Boston Private Financial Holdings Company Profile

Boston Private Financial Holdings, Inc is the bank holding company of Boston Private Bank & Trust Company. The Company offers private banking and wealth management services to high net worth individuals, families, businesses and select institutions. Its segments include Private Banking, Wealth Management and Trust, Investment Management and Wealth Advisory.

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