Maltese Capital Management LLC cut its holdings in shares of Boston Private Financial Hldg Inc (NASDAQ:BPFH) by 59.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,461 shares of the bank’s stock after selling 275,719 shares during the period. Maltese Capital Management LLC owned 0.22% of Boston Private Financial worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its position in Boston Private Financial by 9.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 41,140 shares of the bank’s stock valued at $653,000 after purchasing an additional 3,630 shares during the period. Rhumbline Advisers increased its stake in shares of Boston Private Financial by 2.0% in the 1st quarter. Rhumbline Advisers now owns 203,256 shares of the bank’s stock valued at $3,059,000 after acquiring an additional 4,005 shares during the last quarter. UBS Group AG increased its stake in shares of Boston Private Financial by 63.6% in the 1st quarter. UBS Group AG now owns 17,982 shares of the bank’s stock valued at $271,000 after acquiring an additional 6,989 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Boston Private Financial by 12.5% in the 1st quarter. Russell Investments Group Ltd. now owns 76,277 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 8,483 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Boston Private Financial by 55.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 24,420 shares of the bank’s stock valued at $368,000 after acquiring an additional 8,700 shares during the last quarter. Institutional investors own 91.83% of the company’s stock.

In related news, insider George G. Schwartz sold 6,205 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $14.20, for a total transaction of $88,111.00. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. Also, Director Stephen M. Waters sold 5,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $346,939.20. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

Shares of BPFH stock opened at $14.20 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $1.20 billion, a PE ratio of 15.98 and a beta of 0.96. Boston Private Financial Hldg Inc has a one year low of $13.77 and a one year high of $17.85.

Boston Private Financial (NASDAQ:BPFH) last announced its quarterly earnings results on Wednesday, July 18th. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $89.64 million during the quarter, compared to the consensus estimate of $92.53 million. Boston Private Financial had a net margin of 6.97% and a return on equity of 10.48%. During the same period last year, the company earned $0.27 earnings per share. sell-side analysts expect that Boston Private Financial Hldg Inc will post 0.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.38%. Boston Private Financial’s dividend payout ratio (DPR) is presently 54.55%.

A number of brokerages have recently commented on BPFH. BidaskClub cut Boston Private Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 11th. ValuEngine cut Boston Private Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. BMO Capital Markets lowered their price target 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. Zacks Investment Research cut Boston Private Financial from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, TheStreet cut Boston Private Financial from a “b-” rating to a “c+” rating in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Boston Private Financial currently has a consensus rating of “Hold” and an average price target of $16.80.

About Boston Private Financial

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.

Read More: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Boston Private Financial (NASDAQ:BPFH)

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