Zacks Investment Research Lowers Boston Private Financial (BPFH) to Sell

Boston Private Financial (NASDAQ:BPFH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, January 8th.

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. “

A number of other analysts have also weighed in on BPFH. Sandler O’Neill set a $17.00 price objective on shares of Boston Private Financial and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.00 target price on shares of Boston Private Financial in a research report on Tuesday, October 3rd. BidaskClub lowered shares of Boston Private Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 target price on shares of Boston Private Financial in a research report on Thursday, October 5th. Finally, SunTrust Banks set a $17.00 target price on shares of Boston Private Financial and gave the stock a “hold” rating in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.58.

Shares of Boston Private Financial (NASDAQ BPFH) traded down $0.20 during midday trading on Monday, hitting $15.60. 329,229 shares of the stock traded hands, compared to its average volume of 450,110. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $1,320.00, a PE ratio of 19.75 and a beta of 1.06. Boston Private Financial has a 52-week low of $13.95 and a 52-week high of $17.88.

Boston Private Financial (NASDAQ:BPFH) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Boston Private Financial had a return on equity of 10.03% and a net margin of 18.44%. The firm had revenue of $96.89 million during the quarter, compared to analysts’ expectations of $98.00 million. equities analysts forecast that Boston Private Financial will post 0.89 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in Boston Private Financial by 12.3% in the third quarter. Royce & Associates LP now owns 962,806 shares of the bank’s stock valued at $15,934,000 after acquiring an additional 105,316 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in Boston Private Financial by 1.4% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,390,850 shares of the bank’s stock valued at $23,019,000 after acquiring an additional 18,865 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Boston Private Financial by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 5,315,058 shares of the bank’s stock valued at $87,964,000 after acquiring an additional 27,894 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Boston Private Financial by 13.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 541,482 shares of the bank’s stock valued at $8,962,000 after acquiring an additional 63,490 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Boston Private Financial by 37.0% in the third quarter. Wells Fargo & Company MN now owns 124,524 shares of the bank’s stock valued at $2,061,000 after acquiring an additional 33,640 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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Boston Private Financial Company Profile

Boston Private Financial Holdings, Inc is the bank holding company of Boston Private Bank & Trust Company. The Company offers private banking and wealth management services to high net worth individuals, families, businesses and select institutions. Its segments include Private Banking, Wealth Management and Trust, Investment Management and Wealth Advisory.

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