Boston Private Financial Hldg Inc (NASDAQ:BPFH) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Friday, August 7th will be paid a dividend of 0.06 per share by the bank on Friday, August 21st. This represents a $0.24 annualized dividend and a yield of 4.13%. The ex-dividend date is Thursday, August 6th.
Boston Private Financial has raised its dividend payment by an average of 20.0% per year over the last three years and has raised its dividend every year for the last 6 years. Boston Private Financial has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Boston Private Financial to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 80.0%.
Boston Private Financial stock traded down $0.35 on Thursday, hitting $5.81. 57,723 shares of the stock traded hands, compared to its average volume of 480,585. The business’s fifty day simple moving average is $6.38 and its 200 day simple moving average is $8.18. The firm has a market cap of $475.26 million, a P/E ratio of 13.11 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.86. Boston Private Financial has a 1 year low of $5.18 and a 1 year high of $13.08.
A number of analysts have recently commented on BPFH shares. ValuEngine raised Boston Private Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. SunTrust Banks raised their price target on Boston Private Financial from $8.00 to $9.00 and gave the company a “hold” rating in a report on Friday, May 1st. Wedbush began coverage on shares of Boston Private Financial in a research note on Monday, April 6th. They issued a “neutral” rating and a $8.50 price target on the stock. Keefe, Bruyette & Woods lowered shares of Boston Private Financial from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $10.00 to $9.00 in a research note on Thursday, April 30th. Finally, Zacks Investment Research upgraded shares of Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $8.83.
In related news, Director Lizabeth H. Zlatkus purchased 10,000 shares of Boston Private Financial stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $6.95 per share, for a total transaction of $69,500.00. Following the completion of the purchase, the director now directly owns 40,040 shares of the company’s stock, valued at approximately $278,278. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP W. Timothy Macdonald sold 4,905 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.66, for a total transaction of $32,667.30. Following the transaction, the executive vice president now directly owns 102,306 shares of the company’s stock, valued at $681,357.96. The disclosure for this sale can be found here. Insiders bought 26,136 shares of company stock valued at $179,042 in the last 90 days. Company insiders own 0.82% of the company’s stock.
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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