Brookline Bancorp, Inc. (NASDAQ:BRKL) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
Separately, Keefe, Bruyette & Woods cut Brookline Bancorp, Inc. from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.00 to $16.50 in a research note on Thursday, April 27th.
Shares of Brookline Bancorp, Inc. (BRKL) traded down 1.71% during midday trading on Tuesday, hitting $14.35. The stock had a trading volume of 153,965 shares. Brookline Bancorp, Inc. has a one year low of $10.40 and a one year high of $17.45. The stock has a 50 day moving average of $14.21 and a 200-day moving average of $15.32. The company has a market cap of $1.10 billion, a P/E ratio of 19.13 and a beta of 0.95.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, April 26th. The bank reported $0.19 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. Brookline Bancorp, Inc. had a return on equity of 7.54% and a net margin of 19.19%. The business had revenue of $69 million for the quarter, compared to analysts’ expectations of $56.36 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Brookline Bancorp, Inc. will post $0.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Wednesday, May 10th. Brookline Bancorp, Inc.’s dividend payout ratio (DPR) is 48.00%.
In other news, Director John M. Pereira acquired 10,000 shares of the business’ stock in a transaction on Thursday, April 27th. The shares were purchased at an average price of $14.50 per share, for a total transaction of $145,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael W. Mccurdy sold 4,895 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $14.20, for a total value of $69,509.00. The disclosure for this sale can be found here. Insiders own 2.85% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of 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 valued at $121,000 after buying an additional 160 shares during the last quarter. Victory Capital Management, Inc. purchased a new stake in shares of Brookline Bancorp, Inc. during the first quarter valued at about $161,000. Airain, Ltd. purchased a new stake in shares of Brookline Bancorp during the first quarter valued at about $173,000. Eqis Capital Management, Inc. purchased a new stake in shares of Brookline Bancorp, Inc. during the first quarter valued at about $213,000. Finally, OppenheimerFunds, Inc. purchased a new stake in shares of Brookline Bancorp, Inc. during the first quarter valued at about $218,000. Hedge funds and other institutional investors own 72.95% 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.
