Sandler O’Neill cut shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) from a buy rating to a hold rating in a research note released on Thursday, October 19th, Marketbeat Ratings reports.
Several other brokerages have also recently weighed in on BRKL. BidaskClub upgraded Brookline Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 4th. Piper Jaffray Companies reiterated a hold rating and issued a $15.00 price target on shares of Brookline Bancorp in a research report on Friday, July 14th. Four investment analysts have rated the stock with 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 $15.83.
Brookline Bancorp (NASDAQ:BRKL) traded down $0.50 during trading hours on Thursday, reaching $15.00. The company had a trading volume of 327,401 shares, compared to its average volume of 449,033. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.21. Brookline Bancorp has a 12 month low of $12.56 and a 12 month high of $17.45. The company has a market capitalization of $1,150.00, a price-to-earnings ratio of 19.68 and a beta of 0.96.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $62.82 million during the quarter, compared to analysts’ expectations of $60.37 million. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. During the same period in the previous year, the business earned $0.19 earnings per share. equities analysts predict that Brookline Bancorp will post 0.8 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 2nd. Brookline Bancorp’s dividend payout ratio (DPR) is presently 46.15%.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Brookline Bancorp by 6.5% during the second quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock valued at $135,794,000 after buying an additional 564,134 shares during the period. Vanguard Group Inc. boosted its stake in Brookline Bancorp by 5.7% during the second quarter. Vanguard Group Inc. now owns 6,931,162 shares of the bank’s stock valued at $101,195,000 after buying an additional 376,821 shares during the period. Dimensional Fund Advisors LP boosted its stake in Brookline Bancorp by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,208,632 shares of the bank’s stock valued at $90,647,000 after buying an additional 279,758 shares during the period. State Street Corp boosted its stake in Brookline Bancorp by 11.0% during the second quarter. State Street Corp now owns 2,579,882 shares of the bank’s stock valued at $37,666,000 after buying an additional 255,702 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Brookline Bancorp by 2.5% during the second quarter. Goldman Sachs Group Inc. now owns 2,341,290 shares of the bank’s stock valued at $34,183,000 after buying an additional 57,180 shares during the period. 77.95% of the stock is owned by institutional investors.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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