Brookline Bancorp, Inc. (NASDAQ:BRKL) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, April 27th. They currently have a $16.50 price target on the bank’s stock, down from their prior price target of $17.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 18.71% from the stock’s current price.
Separately, Compass Point raised Brookline Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, January 26th.
Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 13.90 on Thursday. Brookline Bancorp, Inc. has a one year low of $10.40 and a one year high of $17.45. The stock has a market capitalization of $1.06 billion, a P/E ratio of 18.53 and a beta of 0.88. The company’s 50-day moving average is $14.67 and its 200-day moving average is $15.37.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, April 26th. The bank reported $0.19 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. Brookline Bancorp, Inc. had a return on equity of 7.53% and a net margin of 19.97%. The company had revenue of $69 million for the quarter, compared to analyst estimates of $56.36 million. During the same quarter last year, the firm earned $0.18 EPS. Brookline Bancorp, Inc.’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Brookline Bancorp, Inc. will post $0.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Wednesday, May 10th. Brookline Bancorp, Inc.’s dividend payout ratio is currently 48.65%.
In other news, Director John M. Pereira bought 10,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was bought at an average price of $14.50 per share, for a total transaction of $145,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.82% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in Brookline Bancorp, Inc. by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 7,790 shares of the bank’s stock worth $121,000 after buying an additional 160 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Brookline Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the bank’s stock worth $449,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System increased its stake in Brookline Bancorp, Inc. by 1.1% in the first quarter. Arizona State Retirement System now owns 36,739 shares of the bank’s stock worth $575,000 after buying an additional 400 shares in the last quarter. Moors & Cabot Inc. increased its stake in Brookline Bancorp, Inc. by 0.8% in the third quarter. Moors & Cabot, Inc. now owns 78,872 shares of the bank’s stock worth $956,000 after buying an additional 625 shares in the last quarter. Finally, Hartford Investment Management Co. increased its stake in shares of Brookline Bancorp by 5.7% in the third quarter. Hartford Investment Management Co. now owns 14,800 shares of the bank’s stock valued at $180,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 77.36% of the company’s stock.
About Brookline Bancorp, Inc.
Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England. The Company’s activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in Massachusetts and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services.