Boston Private Financial Holdings, Inc. (NASDAQ: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 note issued to investors on Tuesday, July 4th. The firm presently has a $17.00 price objective on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.58% 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 analysts have also issued research reports about the stock. ValuEngine raised shares of Boston Private Financial Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Keefe, Bruyette & Woods set a $15.00 price objective on shares of Boston Private Financial Holdings and gave the stock a “hold” rating in a report on Monday, April 10th. BidaskClub raised shares of Boston Private Financial Holdings from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $18.00 price objective on shares of Boston Private Financial Holdings in a report on Wednesday, March 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $17.00 price objective on shares of Boston Private Financial Holdings in a report on Tuesday, April 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.60.

Boston Private Financial Holdings (NASDAQ BPFH) opened at 15.10 on Tuesday. Boston Private Financial Holdings has a 52 week low of $11.77 and a 52 week high of $17.88. The firm has a market capitalization of $1.27 billion, a P/E ratio of 17.83 and a beta of 1.06. The firm has a 50-day moving average price of $15.36 and a 200-day moving average price of $15.95.

Boston Private Financial Holdings (NASDAQ:BPFH) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The company had revenue of $94.37 million during the quarter, compared to analyst estimates of $95.70 million. Boston Private Financial Holdings had a net margin of 18.86% and a return on equity of 10.16%. Equities analysts forecast that Boston Private Financial Holdings will post $0.88 EPS for the current year.

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In other news, Director Stephen M. Waters sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $15.46, for a total transaction of $139,140.00. Following the sale, the director now directly owns 39,093 shares of the company’s stock, valued at $604,377.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.07% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its stake in Boston Private Financial Holdings by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 34,300 shares of the bank’s stock valued at $527,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue boosted its stake in Boston Private Financial Holdings by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 15,810 shares of the bank’s stock valued at $258,000 after buying an additional 230 shares during the period. Meadow Creek Investment Management LLC boosted its stake in Boston Private Financial Holdings by 8.4% in the first quarter. Meadow Creek Investment Management LLC now owns 6,496 shares of the bank’s stock valued at $107,000 after buying an additional 504 shares during the period. Glen Harbor Capital Management LLC boosted its position in shares of Boston Private Financial Holdings by 8.4% in the first quarter. Glen Harbor Capital Management LLC now owns 7,888 shares of the bank’s stock worth $129,000 after buying an additional 612 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in shares of Boston Private Financial Holdings by 1.2% in the second quarter. Texas Permanent School Fund now owns 61,427 shares of the bank’s stock worth $943,000 after buying an additional 708 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Boston Private Financial Holdings 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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