Wedbush Analysts Increase Earnings Estimates for Boston Private Financial Hldg Inc (NASDAQ:BPFH)

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Boston Private Financial Hldg Inc (NASDAQ:BPFH) – Wedbush upped their Q3 2020 EPS estimates for shares of Boston Private Financial in a research note issued to investors on Monday, June 29th. Wedbush analyst P. Winter now expects that the bank will post earnings per share of $0.14 for the quarter, up from their previous estimate of $0.11. Wedbush currently has a “Neutral” rating and a $8.50 price target on the stock. Wedbush also issued estimates for Boston Private Financial’s Q4 2020 earnings at $0.15 EPS, FY2020 earnings at $0.39 EPS, Q1 2021 earnings at $0.14 EPS, Q2 2021 earnings at $0.15 EPS, Q3 2021 earnings at $0.17 EPS, Q4 2021 earnings at $0.18 EPS and FY2021 earnings at $0.64 EPS.

A number of other research firms have also recently weighed in on BPFH. Zacks Investment Research cut shares of Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Thursday, June 11th. BidaskClub upgraded shares of Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 10th. ValuEngine cut shares of Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods cut shares of Boston Private Financial from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $10.00 to $9.00 in a research note on Thursday, April 30th. Finally, SunTrust Banks boosted their target price on shares of Boston Private Financial from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Boston Private Financial presently has an average rating of “Hold” and a consensus target price of $8.83.

Boston Private Financial stock opened at $6.67 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $546.02 million, a PE ratio of 9.27 and a beta of 1.09. Boston Private Financial has a fifty-two week low of $5.18 and a fifty-two week high of $13.08. The firm’s 50-day simple moving average is $6.81 and its 200 day simple moving average is $9.03.

Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings results on Wednesday, April 29th. The bank reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.16). Boston Private Financial had a return on equity of 7.55% and a net margin of 15.45%. The firm had revenue of $78.78 million for the quarter, compared to analysts’ expectations of $80.16 million.

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Boston Private Financial by 6.3% during the 1st quarter. State Street Corp now owns 3,221,767 shares of the bank’s stock worth $23,036,000 after acquiring an additional 189,639 shares during the period. AQR Capital Management LLC increased its holdings in Boston Private Financial by 6.8% during the 1st quarter. AQR Capital Management LLC now owns 290,452 shares of the bank’s stock worth $2,077,000 after acquiring an additional 18,388 shares during the period. Engineers Gate Manager LP bought a new stake in Boston Private Financial during the 1st quarter worth approximately $134,000. Invesco Ltd. increased its holdings in Boston Private Financial by 5.4% during the 1st quarter. Invesco Ltd. now owns 421,981 shares of the bank’s stock worth $3,018,000 after acquiring an additional 21,620 shares during the period. Finally, Two Sigma Investments LP increased its holdings in Boston Private Financial by 572.0% during the 1st quarter. Two Sigma Investments LP now owns 69,656 shares of the bank’s stock worth $498,000 after acquiring an additional 59,290 shares during the period. 92.24% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP W. Timothy Macdonald sold 4,905 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.66, for a total transaction of $32,667.30. Following the sale, the executive vice president now directly owns 102,306 shares in the company, valued at approximately $681,357.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Dechellis purchased 14,586 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average price of $6.83 per share, for a total transaction of $99,622.38. Following the completion of the purchase, the chief executive officer now directly owns 208,897 shares in the company, valued at approximately $1,426,766.51. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 26,136 shares of company stock worth $179,042 and have sold 12,381 shares worth $86,072. Corporate insiders own 0.82% of the company’s stock.

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. 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.

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Earnings History and Estimates for Boston Private Financial (NASDAQ:BPFH)

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