Boston Private Financial Holdings Inc. (NASDAQ:BPFH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Separately, BMO Capital Markets restated a “market perform” rating and issued a $12.00 price target on shares of Boston Private Financial Holdings in a research report on Wednesday, July 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Boston Private Financial Holdings presently has an average rating of “Hold” and an average target price of $14.38.
Shares of Boston Private Financial Holdings (NASDAQ:BPFH) traded up 0.47% during mid-day trading on Tuesday, reaching $12.88. 381,897 shares of the company were exchanged. Boston Private Financial Holdings has a 12 month low of $9.34 and a 12 month high of $13.02. The stock has a market capitalization of $1.07 billion, a P/E ratio of 17.81 and a beta of 1.30. The firm has a 50-day moving average price of $12.63 and a 200 day moving average price of $12.16.
Boston Private Financial Holdings (NASDAQ:BPFH) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Boston Private Financial Holdings had a net margin of 16.53% and a return on equity of 8.33%. During the same period last year, the firm earned $0.20 EPS. Equities research analysts anticipate that Boston Private Financial Holdings will post $0.79 EPS for the current fiscal year.
In related news, CEO Corey Griffin bought 5,000 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was bought at an average cost of $12.04 per share, with a total value of $60,200.00. Following the completion of the purchase, the chief executive officer now owns 45,468 shares in the company, valued at approximately $547,434.72. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Clayton Deutsch sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $12.84, for a total transaction of $385,200.00. Following the completion of the transaction, the chief executive officer now directly owns 801,121 shares of the company’s stock, valued at $10,286,393.64. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of BPFH. Norges Bank acquired a new stake in Boston Private Financial Holdings during the fourth quarter worth $9,055,000. Endeavour Capital Advisors Inc. increased its stake 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 worth $14,777,000 after buying an additional 967,398 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake 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 worth $25,255,000 after buying an additional 12,326 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake 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 during the period. Finally, BlackRock Fund Advisors increased its stake 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 worth $59,675,000 after buying an additional 54,227 shares during the period. 90.11% of the stock is owned by institutional investors and hedge funds.
About Boston Private Financial Holdings
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