Boston Private Financial: 4Q Earnings Snapshot
BOSTON (AP) _ Boston Private Financial Holdings Inc. (BPFH) on Wednesday reported fourth-quarter net income of $33.3 million, after reporting a loss in the same period a year earlier.
The bank, based in Boston, said it had earnings of 42 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 26 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The bank holding company posted revenue of $105.6 million in the period. Its revenue net of interest expense was $88.7 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $90.2 million.
For the year, the company reported profit of $80.4 million, or 92 cents per share. Revenue was reported as $252.9 million.
Boston Private Financial shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.71, a decline of 23 percent in the last 12 months.