Dimensional Fund Advisors LP reduced its position in Boston Private Financial Hldg Inc (NASDAQ:BPFH) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,269,309 shares of the bank’s stock after selling 153,083 shares during the period. Dimensional Fund Advisors LP owned approximately 6.23% of Boston Private Financial worth $83,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Boston Private Financial during the second quarter valued at $170,000. Oppenheimer Asset Management Inc. bought a new stake in Boston Private Financial during the first quarter valued at about $217,000. CIBC World Markets Inc. bought a new stake in Boston Private Financial during the first quarter valued at about $238,000. SG Americas Securities LLC bought a new stake in Boston Private Financial during the second quarter valued at about $255,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Boston Private Financial during the first quarter valued at about $244,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.
NASDAQ:BPFH traded up $0.07 during trading hours on Friday, reaching $14.03. The company’s stock had a trading volume of 740,611 shares, compared to its average volume of 408,926. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 15.94 and a beta of 0.90. Boston Private Financial Hldg Inc has a 12 month low of $13.20 and a 12 month high of $17.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.58.
Boston Private Financial (NASDAQ:BPFH) last issued its quarterly earnings data on Wednesday, July 18th. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $89.64 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.27 EPS. On average, sell-side analysts expect that Boston Private Financial Hldg Inc will post 0.94 EPS for the current year.
In related news, insider George G. Schwartz sold 6,205 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $14.20, for a total value of $88,111.00. Following the transaction, the insider now directly owns 152,557 shares of the company’s stock, valued at approximately $2,166,309.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen M. Waters sold 5,000 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $14.40, for a total value of $72,000.00. Following the completion of the transaction, the director now directly owns 24,093 shares in the company, valued at $346,939.20. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.
BPFH has been the topic of several research reports. Zacks Investment Research raised Boston Private Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, June 19th. BidaskClub cut Boston Private Financial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. TheStreet cut Boston Private Financial from a “b-” rating to a “c+” rating in a research note on Thursday, August 9th. ValuEngine raised Boston Private Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Finally, BMO Capital Markets dropped their target price on Boston Private Financial from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Boston Private Financial currently has a consensus rating of “Hold” and an average price target of $16.80.
Boston Private Financial 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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