$91.03 Million in Sales Expected for Boston Private Financial Hldg Inc (BPFH) This Quarter

Analysts expect Boston Private Financial Hldg Inc (NASDAQ:BPFH) to report sales of $91.03 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Boston Private Financial’s earnings. The lowest sales estimate is $87.50 million and the highest is $94.50 million. Boston Private Financial reported sales of $96.45 million during the same quarter last year, which suggests a negative year-over-year growth rate of 5.6%. The business is expected to announce its next earnings results on Wednesday, January 16th.

According to Zacks, analysts expect that Boston Private Financial will report full year sales of $369.23 million for the current year, with estimates ranging from $366.20 million to $373.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $354.63 million, with estimates ranging from $347.10 million to $364.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Boston Private Financial.

Boston Private Financial (NASDAQ:BPFH) last posted its quarterly earnings data on Wednesday, October 17th. The bank reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Boston Private Financial had a net margin of 6.76% and a return on equity of 11.27%. The business had revenue of $91.96 million during the quarter, compared to the consensus estimate of $92.03 million. During the same period in the previous year, the firm posted $0.22 earnings per share.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Boston Private Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. ValuEngine upgraded shares of Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. TheStreet downgraded shares of Boston Private Financial from a “b-” rating to a “c+” rating in a research note on Thursday, August 9th. Finally, BidaskClub downgraded shares of Boston Private Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.75.

In other Boston Private Financial news, CEO Anthony Dechellis bought 20,000 shares of Boston Private Financial stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average price of $12.65 per share, with a total value of $253,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 141,879 shares in the company, valued at approximately $1,794,769.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David J. Kaye sold 27,498 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $13.05, for a total transaction of $358,848.90. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Boston Private Financial by 2.0% during the third quarter. BlackRock Inc. now owns 12,481,082 shares of the bank’s stock worth $170,367,000 after purchasing an additional 239,984 shares during the last quarter. Vanguard Group Inc. increased its holdings in Boston Private Financial by 2.0% in the third quarter. Vanguard Group Inc. now owns 8,666,648 shares of the bank’s stock valued at $118,299,000 after buying an additional 173,007 shares in the last quarter. FMR LLC increased its holdings in Boston Private Financial by 9.6% in the second quarter. FMR LLC now owns 7,513,673 shares of the bank’s stock valued at $119,467,000 after buying an additional 656,820 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Boston Private Financial by 7.1% in the third quarter. Dimensional Fund Advisors LP now owns 5,644,672 shares of the bank’s stock valued at $77,049,000 after buying an additional 375,363 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Boston Private Financial by 1.2% in the second quarter. Northern Trust Corp now owns 1,722,152 shares of the bank’s stock valued at $27,383,000 after buying an additional 20,085 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:BPFH traded up $0.09 on Friday, hitting $12.69. 551,850 shares of the company were exchanged, compared to its average volume of 724,813. Boston Private Financial has a 1-year low of $12.39 and a 1-year high of $17.85. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.07 billion, a P/E ratio of 14.42 and a beta of 0.83.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Friday, November 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $0.48 annualized dividend and a dividend yield of 3.78%. Boston Private Financial’s payout ratio is currently 54.55%.

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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