Brookline Bancorp (NASDAQ:BRKL) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
Separately, Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.83.
Brookline Bancorp (NASDAQ BRKL) remained flat at $$15.70 during mid-day trading on Thursday. The stock had a trading volume of 245,773 shares, compared to its average volume of 386,688. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $1,218.77, a price-to-earnings ratio of 20.39 and a beta of 0.97. Brookline Bancorp has a 12-month low of $13.60 and a 12-month high of $17.45.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $62.82 million during the quarter, compared to analysts’ expectations of $60.37 million. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. During the same period in the prior year, the firm earned $0.19 earnings per share. equities analysts predict that Brookline Bancorp will post 0.8 EPS for the current year.
In related news, Director David C. Chapin sold 5,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $14.70, for a total transaction of $73,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul A. Perrault sold 103,255 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total value of $1,516,815.95. Following the transaction, the chief executive officer now directly owns 421,122 shares of the company’s stock, valued at $6,186,282.18. The disclosure for this sale can be found here. Insiders have sold 142,255 shares of company stock valued at $2,138,396 over the last three months. Insiders own 2.85% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new position in Brookline Bancorp during the second quarter valued at approximately $150,000. Alpine Woods Capital Investors LLC boosted its position in Brookline Bancorp by 20.0% during the second quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after purchasing an additional 2,000 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Brookline Bancorp during the second quarter valued at approximately $176,000. Victory Capital Management Inc. boosted its position in Brookline Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after purchasing an additional 1,819 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Brookline Bancorp during the third quarter valued at approximately $197,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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