Piper Sandler Weighs in on Boston Private Financial Hldg Inc’s Q2 2020 Earnings (NASDAQ:BPFH)
Boston Private Financial Hldg Inc (NASDAQ:BPFH) – Equities researchers at Piper Sandler decreased their Q2 2020 earnings estimates for shares of Boston Private Financial in a research report issued to clients and investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now forecasts that the bank will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.21. Piper Sandler also issued estimates for Boston Private Financial’s Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.25 EPS, FY2020 earnings at $0.85 EPS, Q1 2021 earnings at $0.21 EPS, Q2 2021 earnings at $0.25 EPS, Q3 2021 earnings at $0.26 EPS, Q4 2021 earnings at $0.26 EPS and FY2021 earnings at $0.97 EPS.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $82.92 million for the quarter, compared to the consensus estimate of $81.60 million. Boston Private Financial had a net margin of 19.66% and a return on equity of 10.11%. During the same quarter last year, the firm earned $0.26 EPS.
Boston Private Financial stock opened at $6.66 on Wednesday. The company has a market capitalization of $452.96 million, a P/E ratio of 6.87 and a beta of 1.05. The firm’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $11.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Boston Private Financial has a 1-year low of $5.18 and a 1-year high of $13.08.
In other news, EVP Paul M. Simons bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.25 per share, for a total transaction of $51,250.00. Following the acquisition, the executive vice president now directly owns 17,881 shares of the company’s stock, valued at approximately $183,280.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Dechellis bought 7,796 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $7.25 per share, for a total transaction of $56,521.00. The disclosure for this purchase can be found here. Company insiders own 0.82% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in Boston Private Financial by 47.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,807 shares of the bank’s stock worth $33,000 after acquiring an additional 908 shares during the period. PNC Financial Services Group Inc. raised its holdings in Boston Private Financial by 21.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,374 shares of the bank’s stock worth $64,000 after acquiring an additional 960 shares during the period. Amalgamated Bank raised its holdings in Boston Private Financial by 10.5% in the 4th quarter. Amalgamated Bank now owns 14,138 shares of the bank’s stock worth $170,000 after acquiring an additional 1,343 shares during the period. California State Teachers Retirement System raised its holdings in Boston Private Financial by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 129,254 shares of the bank’s stock worth $1,506,000 after acquiring an additional 1,544 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Boston Private Financial by 16.9% in the 4th quarter. ProShare Advisors LLC now owns 13,532 shares of the bank’s stock worth $163,000 after acquiring an additional 1,959 shares during the period. Hedge funds and other institutional investors own 93.34% 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. 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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