Wall Street brokerages expect that Boston Private Financial Hldg Inc (NASDAQ:BPFH) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Boston Private Financial’s earnings. The lowest EPS estimate is $0.21 and the highest is $0.24. Boston Private Financial posted earnings per share of $0.21 during the same quarter last year, which suggests a positive year-over-year growth rate of 9.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, October 17th.
On average, analysts expect that Boston Private Financial will report full year earnings of $0.94 per share for the current financial year. For the next financial year, analysts forecast that the firm will post earnings of $0.99 per share, with EPS estimates ranging from $0.95 to $1.01. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Boston Private Financial.
Boston Private Financial (NASDAQ:BPFH) last issued its quarterly earnings results on Wednesday, July 18th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $89.64 million for the quarter, compared to analyst estimates of $92.53 million. Boston Private Financial had a return on equity of 10.48% and a net margin of 6.97%. During the same period in the previous year, the company posted $0.27 earnings per share.
A number of equities analysts have recently issued reports on the company. TheStreet downgraded Boston Private Financial from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded Boston Private Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. BidaskClub downgraded Boston Private Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Finally, ValuEngine downgraded Boston Private Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.80.
Shares of BPFH stock traded down $0.05 during trading hours on Friday, reaching $13.90. 7,087 shares of the company’s stock were exchanged, compared to its average volume of 405,813. The company has a market cap of $1.19 billion, a PE ratio of 15.85 and a beta of 0.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.58. Boston Private Financial has a fifty-two week low of $13.77 and a fifty-two week high of $17.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Friday, August 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, August 2nd. Boston Private Financial’s payout ratio is presently 54.55%.
In other news, Director Stephen M. Waters sold 5,000 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $14.40, for a total transaction of $72,000.00. Following the sale, the director now directly owns 24,093 shares of the company’s stock, valued at $346,939.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph D. Regan sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $17.18, for a total transaction of $257,700.00. Following the sale, the insider now directly owns 20,478 shares in the company, valued at $351,812.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,205 shares of company stock worth $536,251. Insiders own 2.11% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BPFH. Bank of Montreal Can purchased a new stake in shares of Boston Private Financial during the second quarter valued at $170,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Boston Private Financial during the first quarter valued at $217,000. CIBC World Markets Inc. purchased a new stake in shares of Boston Private Financial during the first quarter valued at $238,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Boston Private Financial during the first quarter valued at $244,000. Finally, Citigroup Inc. grew its holdings in shares of Boston Private Financial by 633.7% during the first quarter. Citigroup Inc. now owns 16,706 shares of the bank’s stock valued at $252,000 after buying an additional 14,429 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
Boston Private Financial Company Profile
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. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.
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