Boston Private Financial (NASDAQ:BPFH) Downgraded by Zacks Investment Research to Sell

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Boston Private Financial (NASDAQ:BPFH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Boston Private Bancorp, through its subsidiaries offers a full range of banking, commercial and residential lending, and trust and investment management services to its domestic and international clientele with a commitment to exceptional service. In the city of Boston, Boston Private Bank & Trust Company offers a First Time Homebuyer program, and “soft second” mortgage financing. Under its Accessible Banking program, the Bank is an active provider of real estate financing for affordable housing, economic development, and small businesses. “

Several other analysts have also commented on the stock. TheStreet lowered shares of Boston Private Financial from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. BidaskClub raised Boston Private Financial from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, ValuEngine lowered Boston Private Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th.

Shares of BPFH stock traded up $0.03 during trading on Wednesday, hitting $11.28. 499,616 shares of the stock traded hands, compared to its average volume of 444,059. The firm has a market capitalization of $977.26 million, a P/E ratio of 11.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day moving average price is $11.55 and its 200-day moving average price is $11.28. Boston Private Financial has a 52-week low of $9.77 and a 52-week high of $12.37.

Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $81.28 million for the quarter, compared to analyst estimates of $82.40 million. Boston Private Financial had a net margin of 22.40% and a return on equity of 10.15%. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities research analysts expect that Boston Private Financial will post 0.94 earnings per share for the current year.

In other Boston Private Financial news, EVP W. Timothy Macdonald sold 20,546 shares of the business’s stock in a transaction that occurred 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 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 SEC, which can be accessed through the SEC website. 1.87% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in BPFH. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Boston Private Financial during the third quarter worth $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Boston Private Financial during the third quarter worth $30,000. Public Employees Retirement System of Ohio increased its position in shares of Boston Private Financial by 47.8% during the third 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 period. Allianz Asset Management GmbH purchased a new stake in shares of Boston Private Financial during the second quarter worth $142,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Boston Private Financial during the second quarter worth $150,000. 93.07% of the stock is currently 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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