Blue Hills Bancorp Inc (BHBK) Holdings Lifted by Rhumbline Advisers
Rhumbline Advisers raised its stake in shares of Blue Hills Bancorp Inc (NASDAQ:BHBK) by 42.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,167 shares of the bank’s stock after purchasing an additional 10,114 shares during the quarter. Rhumbline Advisers owned about 0.13% of Blue Hills Bancorp worth $729,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Blue Hills Bancorp by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 179,456 shares of the bank’s stock worth $3,984,000 after acquiring an additional 3,424 shares during the period. First Trust Advisors LP increased its stake in Blue Hills Bancorp by 110.1% during the 3rd quarter. First Trust Advisors LP now owns 79,775 shares of the bank’s stock worth $1,923,000 after acquiring an additional 41,804 shares during the period. Wells Fargo & Company MN increased its stake in Blue Hills Bancorp by 7.1% during the 3rd quarter. Wells Fargo & Company MN now owns 38,709 shares of the bank’s stock worth $932,000 after acquiring an additional 2,558 shares during the period. Candriam Luxembourg S.C.A. bought a new position in Blue Hills Bancorp during the 3rd quarter worth $3,470,000. Finally, BlackRock Inc. increased its stake in Blue Hills Bancorp by 1.5% during the 3rd quarter. BlackRock Inc. now owns 1,389,633 shares of the bank’s stock worth $33,490,000 after acquiring an additional 20,710 shares during the period. Institutional investors and hedge funds own 54.16% of the company’s stock.
In other news, Director Scott Smith sold 3,000 shares of Blue Hills Bancorp stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $23.13, for a total value of $69,390.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George E. Clancy sold 1,850 shares of Blue Hills Bancorp stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.72, for a total value of $43,882.00. Following the completion of the transaction, the director now owns 16,945 shares in the company, valued at approximately $401,935.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,337 shares of company stock worth $2,836,261. Corporate insiders own 6.60% of the company’s stock.
Blue Hills Bancorp (NASDAQ:BHBK) last issued its quarterly earnings results on Wednesday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. Blue Hills Bancorp had a return on equity of 6.48% and a net margin of 20.98%. The company had revenue of $22.20 million for the quarter, compared to analyst estimates of $19.80 million. Equities research analysts expect that Blue Hills Bancorp Inc will post 1.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 4th. This represents a $0.80 annualized dividend and a dividend yield of 3.37%. Blue Hills Bancorp’s payout ratio is 77.67%.
A number of equities analysts have commented on BHBK shares. Zacks Investment Research upgraded Blue Hills Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, February 11th. Compass Point lowered Blue Hills Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 8th. BidaskClub lowered Blue Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, ValuEngine lowered Blue Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.09.
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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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