Equities analysts expect Boston Private Financial Hldg Inc (NASDAQ:BPFH) to post sales of $92.03 million for the current quarter, Zacks reports. Three analysts have provided estimates for Boston Private Financial’s earnings. The lowest sales estimate is $90.50 million and the highest is $92.80 million. Boston Private Financial reported sales of $96.89 million in the same quarter last year, which would suggest a negative year over year growth rate of 5%. The business is expected to report its next earnings results on Wednesday, October 17th.
According to Zacks, analysts expect that Boston Private Financial will report full-year sales of $372.17 million for the current financial year, with estimates ranging from $368.50 million to $375.10 million. For the next year, analysts anticipate that the business will report sales of $381.20 million, with estimates ranging from $373.50 million to $390.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boston Private Financial.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings data on Wednesday, July 18th. The bank reported $0.21 earnings per share 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 company earned $0.27 EPS.
BPFH has been the subject of a number of recent analyst reports. ValuEngine raised Boston Private Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. BidaskClub lowered Boston Private Financial from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. Zacks Investment Research raised Boston Private Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, June 19th. BMO Capital Markets dropped their price objective on Boston Private Financial from $17.00 to $15.00 and set a “market perform” rating for the company in a research note on Tuesday, July 24th. Finally, TheStreet lowered Boston Private Financial from a “b-” rating to a “c+” rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Boston Private Financial presently has a consensus rating of “Hold” and an average price target of $16.80.
Shares of NASDAQ BPFH traded down $0.10 during mid-day trading on Friday, reaching $13.50. The company’s stock had a trading volume of 366,900 shares, compared to its average volume of 406,390. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 15.34 and a beta of 0.92. 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 has a 52 week low of $13.45 and a 52 week high of $17.85.
In related news, Director Stephen M. Waters sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $14.40, for a total value of $72,000.00. Following the sale, the director now directly owns 24,093 shares in the company, valued at $346,939.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider George G. Schwartz sold 6,205 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $14.20, for a total value of $88,111.00. Following the completion of the sale, the insider now owns 152,557 shares in the company, valued at $2,166,309.40. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of BPFH. Wells Fargo & Company MN lifted its position in shares of Boston Private Financial by 5.9% in the first quarter. Wells Fargo & Company MN now owns 158,791 shares of the bank’s stock worth $2,389,000 after buying an additional 8,807 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Boston Private Financial by 2.0% in the first quarter. Rhumbline Advisers now owns 203,256 shares of the bank’s stock worth $3,059,000 after buying an additional 4,005 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Boston Private Financial by 49.7% in the first quarter. Prudential Financial Inc. now owns 306,269 shares of the bank’s stock worth $4,609,000 after buying an additional 101,720 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Boston Private Financial by 11.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 651,509 shares of the bank’s stock worth $9,806,000 after buying an additional 67,432 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Boston Private Financial by 1.0% in the first quarter. Northern Trust Corp now owns 1,702,067 shares of the bank’s stock worth $25,616,000 after buying an additional 16,838 shares in the last quarter. Institutional investors own 92.71% 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. The company operates through four segments: Private Banking, Wealth Management and Trust, Investment Management, and Wealth Advisory.
Featured Article: Tariff
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.