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Boston Private Financial posts 1Q profit

BOSTON (AP) _ Boston Private Financial Holdings Inc. (BPFH) on Wednesday reported first-quarter earnings of $15.7 million.

The bank, based in Boston, said it had earnings of 17 cents per share. Earnings, adjusted to account for discontinued operations, were 15 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The bank holding company posted revenue of $97.5 million in the period. Its adjusted revenue was $90.1 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $93.4 million.

Boston Private Financial shares have increased roughly 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17, an increase of 35 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BPFH at https://www.zacks.com/ap/BPFH

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Keywords: Boston Private Financial, Earnings Report