Blue Hills Bancorp (BHBK) Downgraded by Piper Jaffray Companies to “Neutral”

Piper Jaffray Companies downgraded shares of Blue Hills Bancorp (NASDAQ:BHBK) from an overweight rating to a neutral rating in a report issued on Tuesday, Marketbeat reports.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Blue Hills Bancorp from a buy rating to a hold rating in a research note on Wednesday, August 8th. ValuEngine upgraded shares of Blue Hills Bancorp from a hold rating to a buy rating in a research note on Saturday. Finally, Zacks Investment Research cut shares of Blue Hills Bancorp from a strong-buy rating to a hold rating in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $23.33.

Shares of BHBK stock opened at $24.65 on Tuesday. The company has a market cap of $671.19 million, a P/E ratio of 30.80 and a beta of 0.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.03. Blue Hills Bancorp has a 12 month low of $18.45 and a 12 month high of $25.80.

Blue Hills Bancorp (NASDAQ:BHBK) last posted its earnings results on Friday, July 27th. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Blue Hills Bancorp had a net margin of 17.02% and a return on equity of 5.02%. The business had revenue of $22.62 million for the quarter, compared to analysts’ expectations of $21.70 million. research analysts forecast that Blue Hills Bancorp will post 1 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. ClariVest Asset Management LLC lifted its stake in Blue Hills Bancorp by 46.2% in the 2nd quarter. ClariVest Asset Management LLC now owns 11,221 shares of the bank’s stock worth $249,000 after purchasing an additional 3,544 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Blue Hills Bancorp during the 2nd quarter valued at $290,000. JPMorgan Chase & Co. raised its position in shares of Blue Hills Bancorp by 218.6% during the 1st quarter. JPMorgan Chase & Co. now owns 16,383 shares of the bank’s stock valued at $342,000 after buying an additional 11,241 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Blue Hills Bancorp during the 2nd quarter valued at $459,000. Finally, GSA Capital Partners LLP raised its position in shares of Blue Hills Bancorp by 74.5% during the 2nd quarter. GSA Capital Partners LLP now owns 28,654 shares of the bank’s stock valued at $636,000 after buying an additional 12,234 shares in the last quarter. Institutional investors and hedge funds own 51.94% of the company’s stock.

Blue Hills Bancorp Company Profile

Blue Hills Bancorp, Inc operates as the bank holding company for Blue Hills Bank that provides financial services to individuals, families, small to mid-size businesses, government, and non-profit organizations in Massachusetts. The company accepts passbook and statement savings, money market, commercial and regular checking, as well as certificates of deposit and IRAs.

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