Boston Private Financial (NASDAQ:BPFH) Sets New 12-Month High Following Earnings Beat

Boston Private Financial Hldg Inc (NASDAQ:BPFH)’s share price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $12.38 and last traded at $12.34, with a volume of 53036 shares. The stock had previously closed at $12.17.

The bank reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $82.92 million for the quarter, compared to analysts’ expectations of $81.60 million. Boston Private Financial had a return on equity of 10.18% and a net margin of 19.66%. During the same period last year, the firm posted $0.26 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.05%. The ex-dividend date is Thursday, February 6th. Boston Private Financial’s dividend payout ratio (DPR) is presently 50.00%.

BPFH has been the topic of several recent analyst reports. Zacks Investment Research raised Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. BidaskClub upgraded Boston Private Financial from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Finally, ValuEngine cut Boston Private Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th.

In other news, EVP W. Timothy Macdonald sold 20,546 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total value of $231,142.50. Following the completion of the transaction, the executive vice president now directly owns 113,851 shares of the company’s stock, valued at approximately $1,280,823.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.87% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maltese Capital Management LLC acquired a new position in shares of Boston Private Financial in the second quarter valued at about $12,097,000. Millennium Management LLC lifted its holdings in Boston Private Financial by 3,367.2% during the 3rd quarter. Millennium Management LLC now owns 796,240 shares of the bank’s stock worth $9,280,000 after buying an additional 773,275 shares during the last quarter. Select Equity Group L.P. lifted its holdings in Boston Private Financial by 71.2% during the 3rd quarter. Select Equity Group L.P. now owns 1,518,550 shares of the bank’s stock worth $17,699,000 after buying an additional 631,500 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Boston Private Financial during the 2nd quarter worth about $4,991,000. Finally, Morgan Stanley lifted its holdings in Boston Private Financial by 504.8% during the 2nd quarter. Morgan Stanley now owns 386,956 shares of the bank’s stock worth $4,671,000 after buying an additional 322,974 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $1.03 billion, a PE ratio of 12.23 and a beta of 1.14. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $11.96 and a 200-day simple moving average of $11.49.

About Boston Private Financial (NASDAQ:BPFH)

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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