Brookline Bancorp, Inc. (NASDAQ:BRKL) has been assigned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $17.38.
Several equities analysts recently issued reports on BRKL shares. Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, February 13th. BidaskClub upgraded shares of Brookline Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. Zacks Investment Research upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday, May 3rd. ValuEngine lowered shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Finally, Piper Jaffray Companies upgraded shares of Brookline Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $15.50 to $17.00 in a research note on Thursday, May 2nd.
BRKL stock opened at $14.84 on Thursday. The company has a market capitalization of $1.18 billion, a P/E ratio of 13.87 and a beta of 0.90. Brookline Bancorp has a 12-month low of $12.84 and a 12-month high of $19.35. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.99.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $69.63 million for the quarter, compared to analysts’ expectations of $69.40 million. Brookline Bancorp had a return on equity of 9.78% and a net margin of 24.61%. As a group, analysts forecast that Brookline Bancorp will post 1.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a yield of 2.96%. Brookline Bancorp’s payout ratio is currently 41.12%.
In other Brookline Bancorp news, insider Mark J. Meiklejohn sold 23,335 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.04, for a total transaction of $350,958.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.54% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in Brookline Bancorp during the 4th quarter valued at $58,000. M&T Bank Corp purchased a new stake in shares of Brookline Bancorp in the 4th quarter worth $916,000. PNC Financial Services Group Inc. increased its stake in shares of Brookline Bancorp by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,273 shares of the bank’s stock worth $516,000 after purchasing an additional 762 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Brookline Bancorp by 21.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,278,025 shares of the bank’s stock worth $17,662,000 after purchasing an additional 226,761 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Brookline Bancorp by 13.1% in the 4th quarter. Bank of America Corp DE now owns 615,788 shares of the bank’s stock worth $8,510,000 after purchasing an additional 71,518 shares in the last quarter. Institutional investors and hedge funds own 76.80% 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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