Boston Private Financial Holdings Inc. (BPFH) Raised 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 report released on Thursday. The firm presently has a $15.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 16.73% from the stock’s current price.
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 research analysts also recently weighed in on the company. Deutsche Bank AG upped their target price on Boston Private Financial Holdings from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday. BMO Capital Markets reiterated a “market perform” rating and set a $12.00 target price on shares of Boston Private Financial Holdings in a report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Boston Private Financial Holdings currently has an average rating of “Hold” and an average price target of $14.63.
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Shares of Boston Private Financial Holdings (NASDAQ:BPFH) traded down 2.28% during mid-day trading on Thursday, reaching $12.85. The company had a trading volume of 415,530 shares. Boston Private Financial Holdings has a one year low of $9.34 and a one year high of $13.44. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 17.77 and a beta of 1.30. The company has a 50 day moving average price of $12.78 and a 200 day moving average price of $12.24.
Boston Private Financial Holdings (NASDAQ:BPFH) last posted its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates 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 in the prior year, the business posted $0.20 EPS. On average, analysts anticipate that Boston Private Financial Holdings will post $0.79 EPS for the current year.
In related news, EVP Martha Higgins sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $12.67, for a total value of $95,025.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Corey Griffin acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $12.04 per share, for a total transaction of $60,200.00. Following the completion of the transaction, the chief executive officer now directly owns 45,468 shares in the company, valued at approximately $547,434.72. The disclosure for this purchase can be found here. 3.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in BPFH. Endeavour Capital Advisors Inc. boosted its position in Boston Private Financial Holdings by 299.3% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,290,573 shares of the company’s stock valued at $14,777,000 after buying an additional 967,398 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Boston Private Financial Holdings by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,205,649 shares of the company’s stock valued at $25,255,000 after buying an additional 12,326 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted 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 valued at $1,041,000 after buying an additional 1,200 shares during the period. BlackRock Fund Advisors boosted its position in Boston Private Financial Holdings by 1.1% in the first quarter. BlackRock Fund Advisors now owns 5,211,763 shares of the company’s stock valued at $59,675,000 after buying an additional 54,227 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new position in Boston Private Financial Holdings during the second quarter valued at about $1,508,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.
Boston Private Financial Holdings Company Profile
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