Boston Private Financial (NASDAQ:BPFH) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Boston Private Financial (NASDAQ:BPFH) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Several other brokerages have also issued reports on BPFH. ValuEngine upgraded shares of Boston Private Financial from a strong sell rating to a sell rating in a research note on Tuesday, August 20th. Zacks Investment Research lowered shares of Boston Private Financial from a hold rating to a sell rating in a research note on Wednesday, September 4th. Finally, TheStreet lowered shares of Boston Private Financial from a b- rating to a c+ rating in a research note on Friday, August 23rd.

Shares of NASDAQ:BPFH traded up $0.09 on Thursday, hitting $12.16. The company had a trading volume of 477,167 shares, compared to its average volume of 434,654. The firm’s 50-day simple moving average is $10.79 and its two-hundred day simple moving average is $11.21. Boston Private Financial has a 1 year low of $9.77 and a 1 year high of $14.50. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $970.75 million, a price-to-earnings ratio of 12.54 and a beta of 1.10.



Boston Private Financial (NASDAQ:BPFH) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). The business had revenue of $81.84 million during the quarter, compared to the consensus estimate of $85.25 million. Boston Private Financial had a return on equity of 10.68% and a net margin of 21.54%. During the same quarter in the previous year, the business earned $0.21 earnings per share. Equities research analysts anticipate that Boston Private Financial will post 0.95 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 3.95%. Boston Private Financial’s payout ratio is 49.48%.

In other Boston Private Financial news, Director Gloria C. Larson purchased 7,226 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $10.08 per share, for a total transaction of $72,838.08. Following the purchase, the director now directly owns 23,075 shares in the company, valued at $232,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven M. Gaven purchased 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $10.53 per share, with a total value of $40,014.00. Following the completion of the purchase, 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. 1.87% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH bought a new stake in Boston Private Financial during the 2nd quarter valued at about $142,000. Quantitative Systematic Strategies LLC bought a new stake in Boston Private Financial during the 2nd quarter valued at about $150,000. LSV Asset Management bought a new stake in Boston Private Financial during the 1st quarter valued at about $139,000. Magnus Financial Group LLC bought a new stake in Boston Private Financial during the 1st quarter valued at about $151,000. Finally, Cubist Systematic Strategies LLC increased its stake in Boston Private Financial by 22.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,264 shares of the bank’s stock valued at $184,000 after purchasing an additional 2,797 shares in the last quarter. Institutional investors and hedge funds own 91.74% of the company’s stock.

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. 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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