Boston Private Financial Hldg Inc (NASDAQ:BPFH) – Equities research analysts at SunTrust Banks lowered their Q4 2018 EPS estimates for Boston Private Financial in a report issued on Friday, October 19th, according to Zacks Investment Research. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings of $0.21 per share for the quarter, down from their previous forecast of $0.24. SunTrust Banks also issued estimates for Boston Private Financial’s Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $1.02 EPS, Q1 2020 earnings at $0.25 EPS, Q2 2020 earnings at $0.25 EPS, Q3 2020 earnings at $0.28 EPS and FY2020 earnings at $1.06 EPS.
BPFH has been the subject of several other reports. BidaskClub cut Boston Private Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised Boston Private Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. TheStreet cut Boston Private Financial from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Finally, ValuEngine raised Boston Private Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.00.
Shares of BPFH stock traded down $0.20 on Monday, hitting $13.60. 316,000 shares of the stock were exchanged, compared to its average volume of 417,942. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $1.17 billion, a P/E ratio of 15.45 and a beta of 0.83. Boston Private Financial has a fifty-two week low of $12.50 and a fifty-two week high of $17.85.
Boston Private Financial (NASDAQ:BPFH) last posted its earnings results on Wednesday, October 17th. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Boston Private Financial had a return on equity of 11.27% and a net margin of 6.76%. The firm had revenue of $91.96 million during the quarter, compared to analysts’ expectations of $92.03 million. During the same period in the previous year, the firm earned $0.22 earnings per share.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Boston Private Financial by 4.3% in the second quarter. BlackRock Inc. now owns 12,241,098 shares of the bank’s stock valued at $194,632,000 after buying an additional 501,724 shares during the period. FMR LLC raised its stake in Boston Private Financial by 9.6% in the second quarter. FMR LLC now owns 7,513,673 shares of the bank’s stock valued at $119,467,000 after buying an additional 656,820 shares during the period. Millennium Management LLC raised its stake in Boston Private Financial by 1.6% in the first quarter. Millennium Management LLC now owns 1,759,960 shares of the bank’s stock valued at $26,487,000 after buying an additional 26,989 shares during the period. Northern Trust Corp raised its stake in Boston Private Financial by 1.2% in the second quarter. Northern Trust Corp now owns 1,722,152 shares of the bank’s stock valued at $27,383,000 after buying an additional 20,085 shares during the period. Finally, American Century Companies Inc. raised its stake in Boston Private Financial by 10.1% in the third quarter. American Century Companies Inc. now owns 1,187,342 shares of the bank’s stock valued at $16,207,000 after buying an additional 109,129 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.
In related news, insider George G. Schwartz sold 6,205 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $14.20, for a total transaction of $88,111.00. Following the sale, the insider now owns 152,557 shares in the company, valued at $2,166,309.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.11% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, November 1st. This represents a $0.48 annualized dividend and a yield of 3.53%. Boston Private Financial’s payout ratio is presently 54.55%.
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. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.
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