Piper Jaffray Cos. Downgrade Blue Hills Bancorp Inc. (BHBK) to Neutral

Piper Jaffray Cos. Downgrade Blue Hills Bancorp Inc. (BHBK) to Neutral

Blue Hills Bancorp Inc. (NASDAQ:BHBK) was downgraded by investment analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a note issued to investors on Thursday. They presently have a $16.00 price target on the stock, up from their previous price target of $15.50. Piper Jaffray Cos.’s target price would suggest a potential downside of 5.33% from the company’s current price.

Other analysts also recently issued reports about the company. TheStreet raised Blue Hills Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Keefe, Bruyette & Woods decreased their target price on Blue Hills Bancorp from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.25.

Blue Hills Bancorp (NASDAQ:BHBK) opened at 16.90 on Thursday. The stock’s 50 day moving average price is $15.15 and its 200-day moving average price is $14.67. Blue Hills Bancorp has a 12-month low of $13.22 and a 12-month high of $17.00. The firm has a market cap of $421.28 million, a PE ratio of 59.30 and a beta of 0.12.

Several institutional investors have recently bought and sold shares of BHBK. FMR LLC raised its position in Blue Hills Bancorp by 72.2% in the second quarter. FMR LLC now owns 1,280,060 shares of the company’s stock worth $18,893,000 after buying an additional 536,694 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Blue Hills Bancorp by 77.1% in the second quarter. Dimensional Fund Advisors LP now owns 317,594 shares of the company’s stock worth $4,687,000 after buying an additional 138,298 shares during the last quarter. Citadel Advisors LLC raised its position in Blue Hills Bancorp by 204.7% in the third quarter. Citadel Advisors LLC now owns 73,063 shares of the company’s stock worth $1,097,000 after buying an additional 49,083 shares during the last quarter. Ironwood Investment Management LLC bought a new position in Blue Hills Bancorp during the third quarter worth approximately $713,000. Finally, Vanguard Group Inc. raised its position in Blue Hills Bancorp by 5.0% in the second quarter. Vanguard Group Inc. now owns 974,874 shares of the company’s stock worth $14,389,000 after buying an additional 46,809 shares during the last quarter. 52.46% of the stock is owned by hedge funds and other institutional investors.

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