Brookline Bancorp (NASDAQ:BRKL) Upgraded at ValuEngine

ValuEngine upgraded shares of Brookline Bancorp (NASDAQ:BRKL) from a sell rating to a hold rating in a research report sent to investors on Wednesday, ValuEngine reports.

BRKL has been the topic of several other research reports. Keefe, Bruyette & Woods set a $16.00 price target on shares of Brookline Bancorp and gave the stock a hold rating in a research report on Friday, July 26th. Zacks Investment Research downgraded shares of Brookline Bancorp from a hold rating to a sell rating in a research report on Monday, August 12th. Finally, BidaskClub upgraded shares of Brookline Bancorp from a strong sell rating to a sell rating in a research report on Saturday, September 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $16.75.

Shares of BRKL traded up $0.14 during trading hours on Wednesday, hitting $14.56. The stock had a trading volume of 139,553 shares, compared to its average volume of 267,148. The company’s fifty day moving average is $14.35 and its two-hundred day moving average is $14.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.14 and a quick ratio of 1.14. Brookline Bancorp has a 52 week low of $12.84 and a 52 week high of $17.19. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.60 and a beta of 0.89.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, July 24th. The bank reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $70.61 million during the quarter, compared to the consensus estimate of $71.30 million. During the same period in the previous year, the company posted $0.26 EPS.

In related news, General Counsel Michael W. Mccurdy sold 4,704 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $14.03, for a total transaction of $65,997.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James J. Mccarthy sold 20,155 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $14.73, for a total transaction of $296,883.15. Following the transaction, the insider now owns 14,396 shares in the company, valued at approximately $212,053.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,859 shares of company stock worth $392,720. 2.54% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Coastal Capital Group Inc. acquired a new position in Brookline Bancorp during the 2nd quarter valued at about $49,000. HM Payson & Co. acquired a new position in Brookline Bancorp during the 2nd quarter valued at about $100,000. US Bancorp DE lifted its position in Brookline Bancorp by 20.0% during 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 during the period. Bank of Montreal Can lifted its position in Brookline Bancorp by 284.6% during the 2nd quarter. Bank of Montreal Can now owns 9,607 shares of the bank’s stock valued at $148,000 after purchasing an additional 7,109 shares during the period. Finally, CWM Advisors LLC lifted its position in Brookline Bancorp by 8.3% during 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 during the period. Institutional investors own 78.88% of the company’s stock.

About Brookline Bancorp

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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