Boston Private Financial (NASDAQ:BPFH) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Boston Private Financial (NASDAQ:BPFH) from a hold rating to a sell rating in a report issued on Wednesday, ValuEngine reports.

A number of other analysts have also recently issued reports on BPFH. Zacks Investment Research raised Boston Private Financial from a sell rating to a hold rating in a report on Wednesday. BidaskClub raised Boston Private Financial from a hold rating to a buy rating in a report on Thursday, September 12th. Finally, TheStreet cut Boston Private Financial from a b- rating to a c+ rating in a report on Friday, August 23rd.

Boston Private Financial stock traded up $0.09 during trading on Wednesday, hitting $11.66. 384,000 shares of the company were exchanged, compared to its average volume of 443,438. The business’s 50 day moving average is $11.53 and its 200 day moving average is $11.27. The company has a market capitalization of $964.78 million, a P/E ratio of 12.02 and a beta of 1.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.99. Boston Private Financial has a 52 week low of $9.77 and a 52 week high of $13.40.

Boston Private Financial (NASDAQ:BPFH) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $81.28 million for the quarter, compared to analysts’ expectations of $82.40 million. Boston Private Financial had a return on equity of 10.15% and a net margin of 22.40%. During the same quarter in the prior year, the firm posted $0.25 EPS. Equities analysts expect that Boston Private Financial will post 0.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.12 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 4.12%. Boston Private Financial’s payout ratio is currently 49.48%.

In other Boston Private Financial news, EVP W. Timothy Macdonald sold 20,546 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total value of $231,142.50. Following the sale, the executive vice president now owns 113,851 shares of the company’s stock, valued at approximately $1,280,823.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven M. Gaven purchased 3,800 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $10.53 per share, for a total transaction of $40,014.00. Following the acquisition, the chief financial officer now owns 11,412 shares in the company, valued at $120,168.36. The disclosure for this purchase can be found here. Company insiders own 1.87% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Strs Ohio raised its holdings in shares of Boston Private Financial by 131.3% in the 2nd quarter. Strs Ohio now owns 29,600 shares of the bank’s stock valued at $357,000 after acquiring an additional 16,800 shares in the last quarter. Bank of Montreal Can increased its position in shares of Boston Private Financial by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 180,959 shares of the bank’s stock valued at $2,184,000 after purchasing an additional 3,725 shares during the last quarter. Northern Trust Corp increased its position in shares of Boston Private Financial by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,660,378 shares of the bank’s stock valued at $20,041,000 after purchasing an additional 20,942 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Boston Private Financial by 97.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 196,451 shares of the bank’s stock valued at $2,371,000 after purchasing an additional 97,057 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Boston Private Financial by 75.6% during the 2nd quarter. Acadian Asset Management LLC now owns 242,791 shares of the bank’s stock valued at $2,931,000 after purchasing an additional 104,545 shares during the last quarter. 91.68% of the stock is currently owned by hedge funds and other 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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