Today’s Market Runner: Could Blue Hills Bancorp Inc Change Direction After Reaching 52-Week High?

Today's Market Runner: Could Blue Hills Bancorp Inc Change Direction After Reaching 52 Week High?

The stock of Blue Hills Bancorp Inc (NASDAQ:BHBK) hit a new 52-week high and has $19.53 target or 9.00% above today’s $17.92 share price. The 7 months bullish chart indicates low risk for the $485.48M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $19.53 price target is reached, the company will be worth $43.69 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 21,179 shares traded hands. Blue Hills Bancorp Inc (NASDAQ:BHBK) has risen 27.67% since April 21, 2016 and is uptrending. It has outperformed by 22.35% the S&P500.

Analysts await Blue Hills Bancorp Inc (NASDAQ:BHBK) to report earnings on January, 26. They expect $0.09 earnings per share, 0.00% or $0.00 from last year’s $0.09 per share. BHBK’s profit will be $2.44M for 49.78 P/E if the $0.09 EPS becomes a reality. After $0.07 actual earnings per share reported by Blue Hills Bancorp Inc for the previous quarter, Wall Street now forecasts 28.57% EPS growth.

Blue Hills Bancorp Inc (NASDAQ:BHBK) Ratings Coverage

Out of 3 analysts covering Blue Hills Bancorp (NASDAQ:BHBK), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Blue Hills Bancorp has been the topic of 5 analyst reports since February 4, 2016 according to StockzIntelligence Inc. The rating was initiated by Piper Jaffray with “Overweight” on Thursday, April 14. Keefe Bruyette & Woods maintained the stock with “Market Perform” rating in Friday, July 29 report. The rating was downgraded by PiperJaffray on Thursday, November 10 to “Neutral”. The firm earned “Neutral” rating on Thursday, November 10 by Piper Jaffray.

According to Zacks Investment Research, “Blue Hills Bancorp, Inc. is the holding company for Blue Hills Bank, a full service, community bank. It provides consumer and commercial deposit and loan products. The Bank offers commercial and industrial and commercial real estate loans in addition to commercial checking and savings accounts. It offers consumer banking products including checking accounts, mortgage loans, equity lines of credit and traditional savings and certificate of deposit accounts. The Bank also offers online services including online account opening and funding, online mortgage applications and online banking, mobile banking and bill pay. Blue Hills Bancorp, Inc. is headquartered in Hyde Park, Massachusetts.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q2. Its down 0.71, from 1.59 in 2016Q1. The ratio dived, as 8 funds sold all Blue Hills Bancorp Inc shares owned while 21 reduced positions. 15 funds bought stakes while 31 increased positions. They now own 12.98 million shares or 0.23% more from 12.95 million shares in 2016Q1.
Blackrock Fund Advsrs, a California-based fund reported 648,083 shares. Morgan Stanley has 34,150 shares for 0% of their US portfolio. Teacher Retirement Systems Of Texas accumulated 25,032 shares or 0% of the stock. Blackrock Mgmt Limited Liability Company accumulated 111,853 shares or 0% of the stock. Tower Research Ltd Liability (Trc) holds 0% of its portfolio in Blue Hills Bancorp Inc (NASDAQ:BHBK) for 2,067 shares. Td Asset Mgmt owns 15,000 shares or 0% of their US portfolio. The Maryland-based Price T Rowe Assocs Md has invested 0.01% in Blue Hills Bancorp Inc (NASDAQ:BHBK). Blackrock Advsr Llc has 11,740 shares for 0% of their US portfolio. Swiss Fincl Bank holds 49,100 shares or 0% of its portfolio. Moreover, Commonwealth Equity Inc has 0% invested in Blue Hills Bancorp Inc (NASDAQ:BHBK) for 20,601 shares. Tiaa Cref Invest Mgmt Limited Liability Co reported 101,611 shares or 0% of all its holdings. Moreover, Citadel Advisors has 0% invested in Blue Hills Bancorp Inc (NASDAQ:BHBK) for 23,980 shares. Summit Group Inc Limited Com, a New York-based fund reported 16,785 shares. Amer accumulated 14,191 shares or 0% of the stock. Springbok Capital reported 4,200 shares or 0.01% of all its holdings.

Insider Transactions: Since August 18, 2016, the stock had 0 buys, and 1 sale for $7,090 net activity. Another trade for 500 shares valued at $7,090 was made by Smith Scott on Thursday, August 18.

More news for Blue Hills Bancorp Inc (NASDAQ:BHBK) were recently published by: Barrons.com, which released: “Blue Hills Bancorp Inc.” on September 03, 2015. Reuters.com‘s article titled: “BRIEF-Blue Hills Bancorp, Inc. reports third quarter earnings” and published on October 23, 2014 is yet another important article.

BHBK Company Profile

Blue Hills Bancorp, Inc. (Blue Hills Bancorp), incorporated on February 27, 2014, is a bank holding firm for the Blue Hills Bank (the Bank). Blue Hills Bank is a Massachusetts-chartered savings bank. The Bank provides financial services to individuals, families, small to mid-size businesses and government and non-profit organizations online and through its approximately 11 full-service branch offices located in Brookline, Dedham, Hyde Park, Milton, Nantucket, Norwood, West Roxbury, and Westwood, Massachusetts. It also operates loan production offices in Boston, Cambridge and Plymouth Massachusetts. The Company’s primary deposit-taking market includes Norfolk, Suffolk and Nantucket Counties in Massachusetts, and its lending market is primarily based in eastern Massachusetts.

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