Brookline Bancorp (NASDAQ:BRKL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Brookline Bancorp, Inc. is a holding company for Brookline Savings Bank. “
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Brookline Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. ValuEngine raised Brookline Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price target on shares of Brookline Bancorp in a report on Friday, July 13th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.67.
NASDAQ:BRKL traded down $0.15 on Thursday, reaching $18.00. 168,245 shares of the company’s stock traded hands, compared to its average volume of 320,582. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.46 billion, a PE ratio of 22.50 and a beta of 0.78. Brookline Bancorp has a 12 month low of $13.63 and a 12 month high of $19.35.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. The business had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $69.40 million. Brookline Bancorp had a return on equity of 8.53% and a net margin of 19.97%. sell-side analysts anticipate that Brookline Bancorp will post 1.08 earnings per share for the current fiscal year.
In other news, Director David C. Chapin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.01, for a total transaction of $90,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider M Robert Rose sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $18.35, for a total value of $82,575.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,250 shares of company stock worth $222,153. Insiders own 2.51% of the company’s stock.
Several institutional investors have recently modified their holdings of BRKL. Rhumbline Advisers grew its position in shares of Brookline Bancorp by 2.3% during the first quarter. Rhumbline Advisers now owns 184,345 shares of the bank’s stock valued at $2,986,000 after purchasing an additional 4,182 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Brookline Bancorp by 51.6% during the first quarter. Victory Capital Management Inc. now owns 23,847 shares of the bank’s stock valued at $386,000 after purchasing an additional 8,112 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Brookline Bancorp by 10.2% during the first quarter. Prudential Financial Inc. now owns 395,593 shares of the bank’s stock valued at $6,408,000 after purchasing an additional 36,470 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Brookline Bancorp by 20.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 779,145 shares of the bank’s stock valued at $12,622,000 after purchasing an additional 132,169 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Brookline Bancorp by 5.5% during the first quarter. Swiss National Bank now owns 133,500 shares of the bank’s stock valued at $2,163,000 after purchasing an additional 6,900 shares in the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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