Boston Private Financial Holdings Inc. (BPFH) Lifted to Buy at Zacks Investment Research
Boston Private Financial Holdings Inc. (NASDAQ:BPFH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $15.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 16.73% from the company’s previous close.
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. “
Other equities analysts have also issued research reports about the company. Deutsche Bank AG increased their target price on Boston Private Financial Holdings from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday. BMO Capital Markets reissued a “market perform” rating and set a $12.00 target price on shares of Boston Private Financial Holdings in a research note on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.63.
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Boston Private Financial Holdings (NASDAQ:BPFH) traded down 2.28% during midday trading on Thursday, hitting $12.85. The company had a trading volume of 382,271 shares. Boston Private Financial Holdings has a 12 month low of $9.34 and a 12 month high of $13.44. The firm has a 50-day moving average price of $12.78 and a 200-day moving average price of $12.24. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 17.77 and a beta of 1.30.
Boston Private Financial Holdings (NASDAQ:BPFH) last posted its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Boston Private Financial Holdings had a return on equity of 8.33% and a net margin of 16.53%. During the same quarter last year, the business posted $0.20 EPS. Equities analysts anticipate that Boston Private Financial Holdings will post $0.79 EPS for the current year.
In other news, CEO Clayton Deutsch sold 30,000 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $12.84, for a total value of $385,200.00. Following the transaction, the chief executive officer now owns 801,121 shares in the company, valued at approximately $10,286,393.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Martha Higgins sold 7,500 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $12.67, for a total value of $95,025.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in Boston Private Financial Holdings by 0.9% in the second quarter. Arizona State Retirement System now owns 43,111 shares of the company’s stock worth $508,000 after buying an additional 400 shares during the last quarter. BlackRock Advisors LLC increased its position in Boston Private Financial Holdings by 2.1% in the second quarter. BlackRock Advisors LLC now owns 39,711 shares of the company’s stock worth $468,000 after buying an additional 832 shares during the last quarter. Profund Advisors LLC increased its position in Boston Private Financial Holdings by 3.3% in the second quarter. Profund Advisors LLC now owns 26,650 shares of the company’s stock worth $314,000 after buying an additional 860 shares in the last quarter. BlackRock Group LTD increased its position in Boston Private Financial Holdings by 0.9% in the second quarter. BlackRock Group LTD now owns 131,407 shares of the company’s stock worth $1,548,000 after buying an additional 1,151 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Boston Private Financial Holdings by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 90,936 shares of the company’s stock worth $1,041,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.
About Boston Private Financial Holdings
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