Boston Private Financial Hldg Inc (NASDAQ:BPFH) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Friday, August 7th will be paid a dividend of 0.06 per share by the bank on Friday, August 21st. This represents a $0.24 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, August 6th.
Boston Private Financial has raised its dividend by an average of 20.0% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Boston Private Financial has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Boston Private Financial to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 80.0%.
BPFH stock traded down $0.35 during trading on Thursday, reaching $5.81. 57,723 shares of the stock were exchanged, compared to its average volume of 480,585. The firm’s 50 day moving average is $6.38 and its 200 day moving average is $8.18. The firm has a market cap of $475.26 million, a P/E ratio of 13.11 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.86. Boston Private Financial has a twelve month low of $5.18 and a twelve month high of $13.08.
Boston Private Financial (NASDAQ:BPFH) last released its quarterly earnings data on Tuesday, July 28th. The bank reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.10). Boston Private Financial had a net margin of 10.37% and a return on equity of 4.74%. The firm had revenue of $81.60 million for the quarter, compared to the consensus estimate of $80.76 million. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts predict that Boston Private Financial will post 0.45 earnings per share for the current fiscal year.
In other news, EVP W. Timothy Macdonald sold 4,905 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $6.66, for a total transaction of $32,667.30. Following the completion of the sale, the executive vice president now owns 102,306 shares in the company, valued at approximately $681,357.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony Dechellis acquired 14,586 shares of Boston Private Financial stock in a transaction on Monday, May 4th. The shares were purchased at an average cost of $6.83 per share, with a total value of $99,622.38. Following the completion of the acquisition, the chief executive officer now owns 208,897 shares of the company’s stock, valued at approximately $1,426,766.51. The disclosure for this purchase can be found here. Insiders bought a total of 26,136 shares of company stock worth $179,042 in the last 90 days. Company insiders own 0.82% of the company’s stock.
A number of brokerages have commented on BPFH. SunTrust Banks boosted their price target on shares of Boston Private Financial from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Zacks Investment Research raised shares of Boston Private Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. BidaskClub lowered shares of Boston Private Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, July 11th. Wedbush started coverage on Boston Private Financial in a research note on Monday, April 6th. They set a “neutral” rating and a $8.50 price target for the company. Finally, Keefe, Bruyette & Woods lowered Boston Private Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $10.00 to $9.00 in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Boston Private Financial currently has a consensus rating of “Hold” and an average target price of $8.83.
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. 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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