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

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

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

Shares of BPFH stock traded up $0.09 during trading hours on Wednesday, reaching $11.66. The company’s stock had a trading volume of 384,000 shares, compared to its average volume of 443,438. The stock has a market capitalization of $964.78 million, a P/E ratio of 12.02 and a beta of 1.11. The firm’s fifty day simple moving average is $11.53 and its 200 day simple moving average is $11.27. Boston Private Financial has a one year low of $9.77 and a one year high of $13.40. 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 (NASDAQ:BPFH) last posted its earnings results on Thursday, October 24th. The bank reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $81.28 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.25 EPS. As a group, equities research analysts forecast that Boston Private Financial will post 0.94 earnings per share for the current fiscal year.

The firm also recently announced 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Thursday, November 7th. Boston Private Financial’s payout ratio is 49.48%.

In related news, EVP W. Timothy Macdonald sold 20,546 shares of Boston Private Financial 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 sale, the executive vice president now owns 113,851 shares of the company’s stock, valued at $1,280,823.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven M. Gaven acquired 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $10.53 per share, with a total value of $40,014.00. Following the acquisition, the chief financial officer now directly owns 11,412 shares of the company’s stock, valued at $120,168.36. The disclosure for this purchase can be found here. 1.87% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Boston Private Financial in the third quarter worth $30,000. Russell Investments Group Ltd. grew its holdings in shares of Boston Private Financial by 25.6% in the third quarter. Russell Investments Group Ltd. now owns 103,173 shares of the bank’s stock worth $1,214,000 after acquiring an additional 21,020 shares during the period. California Public Employees Retirement System grew its holdings in shares of Boston Private Financial by 22.4% in the third quarter. California Public Employees Retirement System now owns 211,962 shares of the bank’s stock worth $2,470,000 after acquiring an additional 38,838 shares during the period. Rhumbline Advisers grew its holdings in shares of Boston Private Financial by 6.8% in the third quarter. Rhumbline Advisers now owns 270,100 shares of the bank’s stock worth $3,148,000 after acquiring an additional 17,151 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Boston Private Financial in the third quarter worth $3,478,000. 91.68% of the stock is owned by institutional investors.

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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