Zacks Investment Research upgraded shares of Blue Hills Bancorp (NASDAQ:BHBK) from a sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Blue Hills Bancorp, Inc. is the holding company for Blue Hills Bank, a full service, community bank. It provides consumer and commercial deposit and loan products. The Bank offers commercial and industrial and commercial real estate loans in addition to commercial checking and savings accounts. It offers consumer banking products including checking accounts, mortgage loans, equity lines of credit and traditional savings and certificate of deposit accounts. The Bank also offers online services including online account opening and funding, online mortgage applications and online banking, mobile banking and bill pay. Blue Hills Bancorp, Inc. is headquartered in Hyde Park, Massachusetts. “
BHBK has been the topic of several other reports. BidaskClub cut Blue Hills Bancorp from a strong-buy rating to a buy rating in a report on Wednesday, July 18th. ValuEngine raised Blue Hills Bancorp from a hold rating to a buy rating in a report on Thursday, October 11th. Piper Jaffray Companies cut Blue Hills Bancorp from an overweight rating to a neutral rating in a report on Tuesday, September 25th. Finally, Keefe, Bruyette & Woods raised Blue Hills Bancorp from a market perform rating to an outperform rating and lifted their target price for the stock from $23.50 to $27.18 in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Blue Hills Bancorp has a consensus rating of Hold and an average target price of $24.89.
NASDAQ:BHBK opened at $23.37 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. The stock has a market cap of $635.19 million, a price-to-earnings ratio of 25.71 and a beta of 0.16. Blue Hills Bancorp has a 52 week low of $18.45 and a 52 week high of $25.80.
Blue Hills Bancorp (NASDAQ:BHBK) last posted its quarterly earnings results on Wednesday, October 24th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $23.32 million for the quarter, compared to analysts’ expectations of $23.00 million. Blue Hills Bancorp had a return on equity of 5.72% and a net margin of 17.82%. As a group, analysts predict that Blue Hills Bancorp will post 0.98 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of Blue Hills Bancorp by 127.6% during the first quarter. Millennium Management LLC now owns 234,931 shares of the bank’s stock valued at $4,898,000 after buying an additional 131,702 shares during the period. McNamara Financial Services Inc. purchased a new position in shares of Blue Hills Bancorp during the third quarter valued at approximately $714,000. GSA Capital Partners LLP boosted its position in shares of Blue Hills Bancorp by 74.5% during the second 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 during the period. Dimensional Fund Advisors LP boosted its position in shares of Blue Hills Bancorp by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 974,757 shares of the bank’s stock valued at $21,640,000 after buying an additional 83,077 shares during the period. Finally, Federated Investors Inc. PA boosted its position in shares of Blue Hills Bancorp by 6.1% during the second quarter. Federated Investors Inc. PA now owns 148,959 shares of the bank’s stock valued at $3,307,000 after buying an additional 8,507 shares during the period. Institutional investors and hedge funds own 53.11% of the company’s stock.
About Blue Hills Bancorp
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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