Todays Report: Today, Boston Private Financial Holdings Inc. (BPFH) Lifted to Buy at Zacks Investment Research

Today, Boston Private Financial Holdings Inc. (BPFH) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Boston Private Financial Holdings Inc. (NASDAQ:BPFH) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $15.00 target price on the stock.

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 a number of other research reports. BMO Capital Markets reaffirmed a market perform rating and set a $12.00 target price on shares of Boston Private Financial Holdings in a report on Wednesday, July 6th. Deutsche Bank AG boosted their price target on Boston Private Financial Holdings from $12.00 to $13.00 and gave the company a hold rating in a report on Tuesday, October 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.63.

Boston Private Financial Holdings (NASDAQ:BPFH) opened at 12.75 on Thursday. The stock’s 50 day moving average price is $12.81 and its 200-day moving average price is $12.28. The company has a market capitalization of $1.06 billion, a P/E ratio of 17.63 and a beta of 1.30. Boston Private Financial Holdings has a 52-week low of $9.34 and a 52-week high of $13.44.

In other news, CEO Clayton Deutsch sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $12.84, for a total value of $385,200.00. Following the completion of the sale, the chief executive officer now directly owns 801,121 shares in the company, valued at $10,286,393.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Martha Higgins sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $12.67, for a total value of $95,025.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of BPFH. Victory Capital Management Inc. boosted its stake in shares of Boston Private Financial Holdings by 77.3% in the second quarter. Victory Capital Management Inc. now owns 8,767 shares of the company’s stock valued at $103,000 after buying an additional 3,821 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Boston Private Financial Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,718 shares of the company’s stock valued at $138,000 after buying an additional 1,417 shares during the last quarter. S&CO Inc. purchased a new stake in shares of Boston Private Financial Holdings during the second quarter valued at approximately $139,000. Societe Generale purchased a new stake in shares of Boston Private Financial Holdings during the second quarter valued at approximately $139,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Boston Private Financial Holdings during the second quarter valued at approximately $139,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.

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