Boston Private Financial Hldg Inc (NASDAQ:BPFH) – Research analysts at Piper Sandler lowered their Q2 2020 earnings per share (EPS) estimates for shares of Boston Private Financial in a note issued to investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now forecasts that the bank will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.21. Piper Sandler also issued estimates for Boston Private Financial’s Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.25 EPS, FY2020 earnings at $0.85 EPS, Q1 2021 earnings at $0.21 EPS, Q2 2021 earnings at $0.25 EPS, Q3 2021 earnings at $0.26 EPS, Q4 2021 earnings at $0.26 EPS and FY2021 earnings at $0.97 EPS.
A number of other analysts also recently commented on BPFH. Zacks Investment Research downgraded Boston Private Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 10th. ValuEngine raised Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, BidaskClub downgraded Boston Private Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 11th.
Boston Private Financial (NASDAQ:BPFH) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $82.92 million for the quarter, compared to the consensus estimate of $81.60 million. Boston Private Financial had a return on equity of 10.11% and a net margin of 19.66%. During the same quarter in the previous year, the business earned $0.26 EPS.
In other news, CEO Anthony Dechellis acquired 7,796 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $7.25 per share, with a total value of $56,521.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paul M. Simons acquired 5,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $10.25 per share, for a total transaction of $51,250.00. Following the purchase, the executive vice president now directly owns 17,881 shares in the company, valued at approximately $183,280.25. The disclosure for this purchase can be found here. 0.82% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Boston Private Financial by 47.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,807 shares of the bank’s stock worth $33,000 after acquiring an additional 908 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Boston Private Financial in the 4th quarter worth $39,000. Meeder Asset Management Inc. grew its holdings in shares of Boston Private Financial by 98.7% in the 4th quarter. Meeder Asset Management Inc. now owns 5,131 shares of the bank’s stock worth $62,000 after acquiring an additional 2,549 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Boston Private Financial by 21.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,374 shares of the bank’s stock worth $64,000 after acquiring an additional 960 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Boston Private Financial in the 4th quarter worth $67,000. Institutional investors and hedge funds own 93.34% 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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