Zacks Investment Research downgraded shares of Boston Private Financial Holdings, Inc. (NASDAQ:BPFH) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

According to Zacks, “Boston Private Bancorp, through its subsidiaries offers a full range of banking, commercial and residential lending, and trust and investment management services to its domestic and international clientele with a commitment to exceptional service. In the city of Boston, Boston Private Bank & Trust Company offers a First Time Homebuyer program, and “soft second” mortgage financing. Under its Accessible Banking program, the Bank is an active provider of real estate financing for affordable housing, economic development, and small businesses. “

BPFH has been the topic of several other reports. ValuEngine cut Boston Private Financial Holdings from a buy rating to a hold rating in a research note on Wednesday, September 6th. BidaskClub cut Boston Private Financial Holdings from a hold rating to a sell rating in a research note on Saturday, August 19th. Finally, Jefferies Group LLC reissued a hold rating and set a $17.00 target price on shares of Boston Private Financial Holdings in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $15.60.

Shares of Boston Private Financial Holdings (NASDAQ BPFH) traded up 0.459% during mid-day trading on Wednesday, reaching $16.425. The company had a trading volume of 141,839 shares. The firm has a market capitalization of $1.38 billion, a PE ratio of 19.346 and a beta of 1.07. The stock has a 50 day moving average price of $14.80 and a 200 day moving average price of $15.44. Boston Private Financial Holdings has a 12-month low of $12.42 and a 12-month high of $17.88.

Boston Private Financial Holdings (NASDAQ:BPFH) last announced its quarterly earnings results on Wednesday, July 26th. The bank reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. The business had revenue of $94.37 million for the quarter, compared to analysts’ expectations of $95.70 million. Boston Private Financial Holdings had a return on equity of 10.16% and a net margin of 18.86%. On average, equities analysts forecast that Boston Private Financial Holdings will post $0.90 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This article was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/09/28/boston-private-financial-holdings-inc-bpfh-downgraded-by-zacks-investment-research-to-sell.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Phocas Financial Corp. boosted its position in shares of Boston Private Financial Holdings by 4.7% during the second quarter. Phocas Financial Corp. now owns 312,968 shares of the bank’s stock valued at $4,804,000 after purchasing an additional 13,961 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Boston Private Financial Holdings during the second quarter valued at approximately $279,000. Susquehanna International Group LLP bought a new stake in shares of Boston Private Financial Holdings during the second quarter valued at approximately $281,000. Scotia Capital Inc. boosted its position in shares of Boston Private Financial Holdings by 13.7% during the second quarter. Scotia Capital Inc. now owns 60,529 shares of the bank’s stock valued at $929,000 after purchasing an additional 7,309 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Boston Private Financial Holdings by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 64,077 shares of the bank’s stock valued at $984,000 after purchasing an additional 1,547 shares in the last quarter. Institutional investors own 90.62% of the company’s stock.

About Boston Private Financial Holdings

Boston Private Financial Holdings, Inc is the bank holding company of Boston Private Bank & Trust Company. The Company offers private banking and wealth management services to high net worth individuals, families, businesses and select institutions. Its segments include Private Banking, Wealth Management and Trust, Investment Management and Wealth Advisory.

Receive News & Stock Ratings for Boston Private Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Private Financial Holdings Inc. and related stocks with our FREE daily email newsletter.