| Over a week ago | ||||
Keefe Bruyette analyst… Keefe Bruyette analyst Christopher McGratty downgraded Boston Private Financial to Market Perform from Outperform with a price target of $9, down from $10. While the company's balance sheet risk is relatively low, discussion around its dividend sustainability "will grow louder" given the uncertain macro outlook and the bank's below-peer pre-provision operating profit earnings power, McGratty tells investors in a research note. The analyst sees the dividend discussion keeping Boston Private's valuation "in check." | ||||
Reports Q1 revenue… Reports Q1 revenue $78.78M, consensus $55.6M. "I am extremely proud of the commitment and dedication shown by the Boston Private employees throughout the COVID-19 pandemic," said Anthony DeChellis, CEO of Boston Private. "Many of our employees have worked around the clock in difficult circumstances to deliver much needed capital and advice to our clients as we navigate this crisis together." | ||||
| Over a month ago | ||||
Catch up on today's… Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Raytheon Technologies (RTX) initiated with a Market Perform at Bernstein. 2. Safehold (SAFE) initiated with a Hold at SunTrust. 3. Boston Private Financial (BPFH) initiated with a Neutral at Wedbush. 4. Pacira (PCRX) initiated with an Outperform at Northland. 5. Alta Equipment Group (ALTG) initiated with a Buy at Dougherty. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
As previously reported,… As previously reported, Wedbush analyst Peter Winter initiated coverage of Boston Private Financial with a Neutral rating and $8.50 price target. The analyst notes that management is confronting a new challenge, COVID-19 pandemic, which could further delay its expansion plans as the economy has grinded to a standstill, making it more difficult to hire advisers and muted loan demand. | ||||
Wedbush analyst Peter… Wedbush analyst Peter Winter initiated coverage of Boston Private Financial with a Neutral rating and $8.50 price target. | |
Keefe Bruyette analyst… Keefe Bruyette analyst Christopher McGratty upgraded Boston Private Financial to Outperform from Market Perform with a $10 price target. |
| Over a quarter ago | ||||
Reports Q4 revenue… Reports Q4 revenue $82.9M, consensus $56.08M. Reports Q4 total AUM up 5% from last year at $16.58B. Reports Q4 net interest margin 2.7% vs. 2.94% last year. | ||||
Boston Private announced… Boston Private announced the appointment of Allison Baird as Chief Marketing Officer. In this role, Ms. Baird will be responsible for all aspects of marketing, advertising, branding, public relations and client development programs across the firm. Baird joined Boston Private in 2016 as Senior Vice President of Marketing and Client Development to lead strategic programs designed to drive awareness and affinity among Boston Private clients and prospects. | ||||
Tangible book value per… Tangible book value per share was $8.90 vs. $8.71 last quarter. Reports return on average common equity 9.8%. Total assets under management/advisory were $16.2B, a decrease of 8% year-over-year. Total net flows were negative $137M, of which negative $100M were attributable to the Wealth Management & Trust segment. The company said, ""Our team is making strong progress building a platform to support the growth initiatives we shared during our Investor Day. Our third quarter results reflect disciplined expense management in a challenging net interest income environment, as we position our businesses to be more cohesive and competitive. This quarter, we welcomed John Longley as the President of the Western Region and Pat Dwyer as the Head of Strategic Business Development to help drive growth across the company. We also completed the formal integration of Boston Private Wealth and KLS Professional Advisors, a key milestone towards simplifying the BPFH business model and scaling Boston Private's ability to compete at the highest levels of the financial services industry." | ||||