Brookline Bancorp (NASDAQ:BRKL) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Brookline Bancorp (NASDAQ:BRKL) from a strong sell rating to a sell rating in a research report released on Saturday morning, BidAskClub reports.

Several other research firms have also issued reports on BRKL. Keefe, Bruyette & Woods set a $16.00 price objective on shares of Brookline Bancorp and gave the stock a hold rating in a research report on Friday, July 26th. ValuEngine lowered shares of Brookline Bancorp from a hold rating to a sell rating in a research report on Thursday, May 30th. Finally, Zacks Investment Research lowered shares of Brookline Bancorp from a hold rating to a sell rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $16.75.

Brookline Bancorp stock opened at $14.75 on Friday. Brookline Bancorp has a 52-week low of $12.84 and a 52-week high of $17.85. The firm has a fifty day moving average of $14.17 and a 200-day moving average of $14.75. The firm has a market capitalization of $1.18 billion, a P/E ratio of 13.79 and a beta of 0.91. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.04.



Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). Brookline Bancorp had a return on equity of 9.60% and a net margin of 23.77%. The business had revenue of $70.61 million during the quarter, compared to analyst estimates of $71.30 million. During the same period in the previous year, the company earned $0.26 EPS.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.44 annualized dividend and a dividend yield of 2.98%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 41.12%.

In other news, Director John A. Hackett sold 2,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $14.92, for a total value of $29,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael W. Mccurdy sold 4,704 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $14.03, for a total transaction of $65,997.12. The disclosure for this sale can be found here. Insiders sold 26,859 shares of company stock valued at $392,720 over the last 90 days. Insiders own 2.54% of the company’s stock.

Several hedge funds have recently made changes to their positions in BRKL. Arizona State Retirement System boosted its stake in Brookline Bancorp by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 123,746 shares of the bank’s stock valued at $1,903,000 after acquiring an additional 695 shares during the last quarter. CWM Advisors LLC raised its stake in shares of Brookline Bancorp by 8.3% in the 2nd quarter. CWM Advisors LLC now owns 11,830 shares of the bank’s stock valued at $182,000 after purchasing an additional 910 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in shares of Brookline Bancorp by 5.3% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 20,133 shares of the bank’s stock valued at $290,000 after purchasing an additional 1,005 shares in the last quarter. US Bancorp DE raised its stake in shares of Brookline Bancorp by 20.0% in the 2nd quarter. US Bancorp DE now owns 6,810 shares of the bank’s stock valued at $104,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Brookline Bancorp by 2.8% in the 1st quarter. Texas Permanent School Fund now owns 54,161 shares of the bank’s stock valued at $780,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors and hedge funds own 78.88% 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, as well as commercial, municipal, and retail deposits.

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