Blue Hills Bancorp (BHBK) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Blue Hills Bancorp (NASDAQ:BHBK) from a buy rating to a hold rating in a report published on Tuesday.

Several other brokerages have also issued reports on BHBK. Piper Jaffray Companies reiterated a hold rating and set a $21.00 price target on shares of Blue Hills Bancorp in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reiterated a hold rating and set a $19.00 price target on shares of Blue Hills Bancorp in a report on Friday, August 18th.

Shares of Blue Hills Bancorp (NASDAQ BHBK) traded up $0.15 during trading on Tuesday, hitting $20.40. The stock had a trading volume of 39,600 shares, compared to its average volume of 60,214. The firm has a market cap of $543.24, a price-to-earnings ratio of 34.91 and a beta of 0.27. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. Blue Hills Bancorp has a fifty-two week low of $16.40 and a fifty-two week high of $22.05.

Blue Hills Bancorp (NASDAQ:BHBK) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The business had revenue of $19.78 million during the quarter. Blue Hills Bancorp had a return on equity of 3.50% and a net margin of 19.33%. equities research analysts predict that Blue Hills Bancorp will post 0.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.94%. Blue Hills Bancorp’s dividend payout ratio is 75.00%.

In related news, CFO Jim Kivlehan bought 12,178 shares of Blue Hills Bancorp stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $21.78 per share, for a total transaction of $265,236.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George E. Clancy sold 1,517 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $20.35, for a total value of $30,870.95. Following the completion of the sale, the director now owns 18,795 shares of the company’s stock, valued at $382,478.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,367 shares of company stock valued at $108,548. Corporate insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP lifted its holdings in Blue Hills Bancorp by 9.3% in the 2nd quarter. GSA Capital Partners LLP now owns 19,074 shares of the bank’s stock worth $341,000 after purchasing an additional 1,624 shares during the last quarter. Bank of New York Mellon Corp increased its position in Blue Hills Bancorp by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 144,749 shares of the bank’s stock worth $2,778,000 after buying an additional 3,682 shares during the period. New York State Common Retirement Fund increased its position in Blue Hills Bancorp by 16.1% in the 3rd quarter. New York State Common Retirement Fund now owns 29,710 shares of the bank’s stock worth $570,000 after buying an additional 4,110 shares during the period. Alliancebernstein L.P. increased its position in Blue Hills Bancorp by 31.7% in the 2nd quarter. Alliancebernstein L.P. now owns 19,100 shares of the bank’s stock worth $342,000 after buying an additional 4,600 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Blue Hills Bancorp by 14.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 50,450 shares of the bank’s stock worth $969,000 after buying an additional 6,550 shares during the period. Hedge funds and other institutional investors own 51.88% of the company’s stock.

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Blue Hills Bancorp Company Profile

Blue Hills Bancorp, Inc is a bank holding company for the Blue Hills Bank (the Bank). Blue Hills Bank is a Massachusetts-chartered savings bank. As of December 31, 2016, the Bank provided financial services to individuals, families, small to mid-size businesses and government and non-profit organizations online and through its 11 full-service branch offices located in Brookline, Dedham, Hyde Park, Milton, Nantucket, Norwood, West Roxbury, and Westwood, Massachusetts.

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