Boston Private Financial (NASDAQ:BPFH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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 subject of several other research reports. ValuEngine downgraded shares of Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. BidaskClub upgraded shares of Boston Private Financial from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, TheStreet downgraded shares of Boston Private Financial from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd.

Shares of BPFH traded up $0.03 during mid-day trading on Wednesday, hitting $11.28. 499,616 shares of the company’s stock were exchanged, compared to its average volume of 444,059. Boston Private Financial has a fifty-two week low of $9.77 and a fifty-two week high of $12.37. The firm has a market capitalization of $977.26 million, a P/E ratio of 11.63 and a beta of 1.13. The business’s 50 day moving average is $11.55 and its two-hundred day moving average is $11.28. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.99.

Boston Private Financial (NASDAQ:BPFH) last announced its earnings results on Thursday, October 24th. The bank reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Boston Private Financial had a net margin of 22.40% and a return on equity of 10.15%. The business had revenue of $81.28 million during the quarter, compared to the consensus estimate of $82.40 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that Boston Private Financial will post 0.94 earnings per share for the current year.

In related news, EVP W. Timothy Macdonald sold 20,546 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $11.25, for a total transaction of $231,142.50. Following the completion of the transaction, the executive vice president now directly owns 113,851 shares of the company’s stock, valued at $1,280,823.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.87% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Boston Private Financial by 0.8% during the second quarter. Vanguard Group Inc. now owns 9,287,940 shares of the bank’s stock worth $112,105,000 after purchasing an additional 75,868 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Boston Private Financial by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 2,618,897 shares of the bank’s stock worth $31,610,000 after purchasing an additional 176,682 shares in the last quarter. Northern Trust Corp raised its holdings in Boston Private Financial by 1.3% during the second quarter. Northern Trust Corp now owns 1,660,378 shares of the bank’s stock worth $20,041,000 after purchasing an additional 20,942 shares in the last quarter. Banc Funds Co. LLC raised its holdings in Boston Private Financial by 51.6% during the second quarter. Banc Funds Co. LLC now owns 1,643,433 shares of the bank’s stock worth $19,836,000 after purchasing an additional 559,170 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Boston Private Financial by 2.2% during the second quarter. Invesco Ltd. now owns 1,634,578 shares of the bank’s stock worth $19,729,000 after purchasing an additional 34,514 shares in the last quarter. 93.07% of the stock is owned by hedge funds and other institutional investors.

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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