Brookline Bancorp, Inc. (NASDAQ:BRKL)‘s stock had its “hold” rating reiterated by equities researchers at Piper Jaffray Companies in a research report issued on Tuesday. They presently have a $16.50 price target on the bank’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 3.13% from the company’s current price.
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Brookline Bancorp, Inc. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Sandler O’Neill lowered shares of Brookline Bancorp, Inc. from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Brookline Bancorp, Inc. presently has a consensus rating of “Hold” and a consensus price target of $16.33.
Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at $16.00 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.16 and a current ratio of 1.16. Brookline Bancorp, Inc. has a one year low of $13.60 and a one year high of $17.45. The stock has a market cap of $1,222.60, a P/E ratio of 20.51 and a beta of 0.97.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. Brookline Bancorp, Inc. had a net margin of 19.82% and a return on equity of 7.52%. The company had revenue of $62.82 million during the quarter, compared to analyst estimates of $60.37 million. During the same quarter last year, the business posted $0.19 EPS. research analysts expect that Brookline Bancorp, Inc. will post 0.8 earnings per share for the current year.
In related news, Director David C. Chapin sold 5,000 shares of Brookline Bancorp, Inc. stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $14.70, for a total value of $73,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Peck sold 16,000 shares of Brookline Bancorp, Inc. stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $16.38, for a total transaction of $262,080.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,255 shares of company stock valued at $2,138,396. 2.85% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group, Inc. grew its stake in Brookline Bancorp, Inc. by 1.9% in the 2nd quarter. PNC Financial Services Group, Inc. now owns 23,832 shares of the bank’s stock valued at $346,000 after buying an additional 451 shares in the last quarter. Nationwide Fund Advisors grew its stake in Brookline Bancorp, Inc. by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 116,690 shares of the bank’s stock valued at $1,704,000 after buying an additional 875 shares in the last quarter. Victory Capital Management, Inc. grew its stake in Brookline Bancorp, Inc. by 17.6% in the 2nd quarter. Victory Capital Management, Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after buying an additional 1,819 shares in the last quarter. California Public Employees Retirement System grew its stake in Brookline Bancorp, Inc. by 1.2% in the 3rd quarter. California Public Employees Retirement System now owns 354,797 shares of the bank’s stock valued at $5,499,000 after buying an additional 4,111 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its stake in Brookline Bancorp, Inc. by 9.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 48,020 shares of the bank’s stock valued at $701,000 after buying an additional 4,187 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.
Brookline Bancorp, Inc. 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.
