Jefferies Maintains Hold Rating on Boston Private Financial

Jefferies & Company Maintained its Hold rating on shares of Boston Private Financial (BPFH). Jefferies states,"BPFH's 1Q results indicate credit quality issues in Northern CA are subsiding and loan pipelines are strong enough to overcome CRE run-off and deliver positive loan growth this year. We see upside from current levels given reasonable valuation (1.5x tangible book), but a lack of catalysts and a liability sensitive balance sheet keep us at Hold." Shares of Jefferies closed at $6.99 on Friday.