Boston Private Financial (NASDAQ:BPFH) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Boston Private Financial (NASDAQ:BPFH) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, BidAskClub reports.

BPFH has been the subject of several other reports. ValuEngine upgraded shares of Boston Private Financial from a strong sell rating to a sell rating in a research note on Tuesday, August 20th. TheStreet cut shares of Boston Private Financial from a b- rating to a c+ rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research cut shares of Boston Private Financial from a hold rating to a sell rating in a research note on Wednesday, September 4th.

NASDAQ:BPFH opened at $12.16 on Thursday. The stock has a market cap of $1.01 billion, a P/E ratio of 12.54 and a beta of 1.10. Boston Private Financial has a one year low of $9.77 and a one year high of $14.50. The company has a fifty day moving average price of $10.80 and a 200 day moving average price of $11.21. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.07 and a quick ratio of 1.07.

Boston Private Financial (NASDAQ:BPFH) last released its earnings results on Wednesday, July 24th. The bank reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). The company had revenue of $81.84 million for the quarter, compared to analyst estimates of $85.25 million. Boston Private Financial had a net margin of 21.54% and a return on equity of 10.68%. During the same quarter in the previous year, the company earned $0.21 earnings per share. As a group, equities research analysts anticipate that Boston Private Financial will post 0.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, August 8th. Boston Private Financial’s payout ratio is currently 49.48%.

In other Boston Private Financial news, CFO Steven M. Gaven acquired 3,800 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $10.53 per share, for a total transaction of $40,014.00. Following the purchase, the chief financial officer now owns 11,412 shares in the company, valued at approximately $120,168.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gloria C. Larson acquired 7,226 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $10.08 per share, with a total value of $72,838.08. Following the purchase, the director now owns 23,075 shares in the company, valued at approximately $232,596. The disclosure for this purchase can be found here. 1.87% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new position in shares of Boston Private Financial in the 2nd quarter valued at $142,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Boston Private Financial in the 2nd quarter valued at $150,000. LSV Asset Management acquired a new position in shares of Boston Private Financial in the 1st quarter valued at $139,000. Magnus Financial Group LLC acquired a new position in shares of Boston Private Financial in the 1st quarter valued at $151,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Boston Private Financial by 22.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,264 shares of the bank’s stock valued at $184,000 after buying an additional 2,797 shares in the last quarter. Institutional investors own 91.74% of the company’s stock.

About Boston Private Financial

Boston Private Financial Holdings, Inc operates as the bank holding company for Boston Private Bank & Trust Company that provides a range of banking services in the United States. It operates in three segments: Private Banking, Wealth Management and Trust, and Affiliate Partners. The company accepts deposit products, such as checking accounts, savings and NOW accounts, money market accounts, and certificates of deposit.

Further Reading: Outstanding Shares, Buying and Selling Stocks

Receive News & Ratings for Boston Private Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Private Financial and related companies with MarketBeat.com's FREE daily email newsletter.