Zacks Investment Research Downgrades Boston Private Financial (BPFH) to Sell

Zacks Investment Research lowered shares of Boston Private Financial (NASDAQ:BPFH) from a hold rating to a sell rating in a research report released on Monday.

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. “

Several other research firms also recently weighed in on BPFH. SunTrust Banks set a $17.00 price target on shares of Boston Private Financial and gave the stock a hold rating in a research report on Friday, November 17th. BidaskClub downgraded shares of Boston Private Financial from a buy rating to a hold rating in a research report on Thursday, December 7th. Sandler O’Neill set a $17.00 price target on shares of Boston Private Financial and gave the stock a hold rating in a research report on Wednesday, January 3rd. BMO Capital Markets reiterated a hold rating and issued a $15.00 price target on shares of Boston Private Financial in a research report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $15.00 price target on shares of Boston Private Financial in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Boston Private Financial presently has a consensus rating of Hold and an average price target of $16.58.

Shares of Boston Private Financial (NASDAQ:BPFH) traded up $0.15 during trading on Monday, reaching $15.80. 524,924 shares of the company were exchanged, compared to its average volume of 463,544. The company has a market capitalization of $1,320.00, a P/E ratio of 20.00 and a beta of 1.06. Boston Private Financial has a 12 month low of $13.95 and a 12 month high of $17.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20.

Boston Private Financial (NASDAQ:BPFH) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The company had revenue of $96.89 million for the quarter, compared to the consensus estimate of $98.00 million. Boston Private Financial had a net margin of 18.44% and a return on equity of 10.03%. equities research analysts predict that Boston Private Financial will post 0.89 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Boston Private Financial by 2.6% in the second quarter. Amalgamated Bank now owns 11,386 shares of the bank’s stock worth $175,000 after purchasing an additional 290 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Boston Private Financial by 32.3% in the second quarter. Nordea Investment Management AB now owns 12,700 shares of the bank’s stock worth $195,000 after purchasing an additional 3,100 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Boston Private Financial in the third quarter worth $234,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Boston Private Financial in the second quarter worth $261,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Boston Private Financial in the second quarter worth $279,000. 90.48% of the stock is owned by hedge funds and other institutional investors.

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Boston Private Financial 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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