Zacks: Blue Hills Bancorp (BHBK) Given $22.00 Average Target Price by Analysts

Blue Hills Bancorp (NASDAQ:BHBK) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price target of $22.00 for the company and are anticipating that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Blue Hills Bancorp an industry rank of 113 out of 265 based on the ratings given to related companies.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Blue Hills Bancorp from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Zacks Investment Research raised shares of Blue Hills Bancorp from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Wednesday. Finally, Piper Jaffray raised shares of Blue Hills Bancorp from a “neutral” rating to an “overweight” rating in a report on Monday, February 5th.

Shares of Blue Hills Bancorp opened at $20.50 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $545.33 million, a P/E ratio of 36.61 and a beta of 0.09. Blue Hills Bancorp has a fifty-two week low of $20.25 and a fifty-two week high of $20.35.

Blue Hills Bancorp (NASDAQ:BHBK) last issued its quarterly earnings results on Tuesday, April 24th. The bank reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $22.26 million during the quarter. Blue Hills Bancorp had a net margin of 15.12% and a return on equity of 4.31%. equities analysts predict that Blue Hills Bancorp will post 0.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 13th. Shareholders of record on Wednesday, May 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 29th. Blue Hills Bancorp’s dividend payout ratio is presently 62.50%.

In other Blue Hills Bancorp news, EVP Robert Driscoll sold 7,600 shares of Blue Hills Bancorp stock in a transaction on Wednesday, April 25th. The shares were sold at an average price of $20.90, for a total transaction of $158,840.00. Following the completion of the sale, the executive vice president now owns 82,101 shares of the company’s stock, valued at approximately $1,715,910.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian G. Leary sold 11,000 shares of Blue Hills Bancorp stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $20.90, for a total transaction of $229,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,500 shares of company stock valued at $426,645 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ClariVest Asset Management LLC acquired a new position in shares of Blue Hills Bancorp in the 1st quarter valued at $160,000. MetLife Investment Advisors LLC acquired a new position in shares of Blue Hills Bancorp in the 4th quarter valued at $263,000. JPMorgan Chase & Co. grew its holdings in shares of Blue Hills Bancorp by 218.6% in the 1st quarter. JPMorgan Chase & Co. now owns 16,383 shares of the bank’s stock valued at $342,000 after buying an additional 11,241 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Blue Hills Bancorp in the 1st quarter valued at $377,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Blue Hills Bancorp in the 4th quarter valued at $462,000. 51.61% of the stock is owned by hedge funds and other institutional investors.

Blue Hills Bancorp Company Profile

Blue Hills Bancorp, Inc operates as the bank holding company for Blue Hills Bank that provides financial services to individuals, families, small to mid-size businesses, government, and non-profit organizations in Massachusetts. The company accepts passbook and statement savings, money market, commercial and regular checking, as well as certificates of deposit and IRAs.

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