Brookline Bancorp, Inc. (NASDAQ:BRKL) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.67.
BRKL has been the subject of a number of research reports. ValuEngine raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James initiated coverage on Brookline Bancorp in a research note on Tuesday, November 26th. They set a “market perform” rating for the company. BidaskClub cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Zacks Investment Research cut Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 12th.
Shares of BRKL stock opened at $15.74 on Thursday. The stock has a 50-day moving average of $15.78 and a 200-day moving average of $14.90. Brookline Bancorp has a one year low of $12.84 and a one year high of $16.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $1.28 billion, a PE ratio of 14.71 and a beta of 0.89.
Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. Brookline Bancorp had a return on equity of 9.63% and a net margin of 23.28%. The business had revenue of $71.17 million during the quarter. As a group, research analysts anticipate that Brookline Bancorp will post 1.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.92%. This is a boost from Brookline Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, November 7th. Brookline Bancorp’s dividend payout ratio is presently 42.99%.
In other news, Director Charles H. Peck sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $160,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James J. Mccarthy sold 5,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $15.84, for a total transaction of $87,626.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,687 shares of company stock valued at $731,450. 2.54% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Brookline Bancorp by 1.1% during the 2nd quarter. BlackRock Inc. now owns 11,772,323 shares of the bank’s stock worth $181,058,000 after acquiring an additional 127,816 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Brookline Bancorp by 14.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,419,532 shares of the bank’s stock worth $35,640,000 after acquiring an additional 296,469 shares in the last quarter. Northern Trust Corp grew its stake in shares of Brookline Bancorp by 2.0% during the 2nd quarter. Northern Trust Corp now owns 1,509,394 shares of the bank’s stock worth $23,215,000 after acquiring an additional 29,105 shares in the last quarter. Invesco Ltd. grew its stake in shares of Brookline Bancorp by 9.0% during the 2nd quarter. Invesco Ltd. now owns 1,294,938 shares of the bank’s stock worth $19,916,000 after acquiring an additional 106,526 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Brookline Bancorp by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,231,666 shares of the bank’s stock worth $18,943,000 after acquiring an additional 5,123 shares in the last quarter. 79.84% of the stock is owned by institutional investors.
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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