Brookline Bancorp, Inc. (NASDAQ:BRKL)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $14.86 and traded as high as $15.10. Brookline Bancorp, Inc. shares last traded at $15.01, with a volume of 3,111 shares.
BRKL has been the subject of several analyst reports. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Piper Jaffray Companies upgraded shares of Brookline Bancorp, Inc. from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $15.50 to $17.00 in a report on Thursday, May 2nd. ValuEngine lowered shares of Willdan Group from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. Finally, BidaskClub lowered shares of Xilinx from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “hold” and an average price target of $17.38.
The company has a market capitalization of $1.20 billion, a P/E ratio of 13.77 and a beta of 0.90. The business has a 50 day moving average price of $14.88. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.13.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $69.63 million for the quarter, compared to the consensus estimate of $69.40 million. Brookline Bancorp had a net margin of 24.61% and a return on equity of 9.78%. On average, analysts anticipate that Brookline Bancorp, Inc. will post 1.16 earnings per share for the current fiscal year.
In other Brookline Bancorp, Inc. news, insider Mark J. Meiklejohn sold 23,335 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.04, for a total transaction of $350,958.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael W. Mccurdy sold 2,574 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $14.89, for a total transaction of $38,326.86. The disclosure for this sale can be found here. Insiders sold a total of 26,979 shares of company stock worth $405,539 in the last ninety days. 2.54% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group, Inc. increased its position in Brookline Bancorp, Inc. by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 37,273 shares of the bank’s stock valued at $516,000 after purchasing an additional 762 shares during the period. Bank of America Corp DE boosted its holdings in shares of Brookline Bancorp, Inc. by 13.1% in the 4th quarter. Bank of America Corp DE now owns 615,788 shares of the bank’s stock valued at $8,510,000 after buying an additional 71,518 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Brookline Bancorp by 466.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 123,104 shares of the bank’s stock valued at $1,701,000 after buying an additional 101,386 shares in the last quarter. Comerica Bank boosted its holdings in shares of Brookline Bancorp, Inc. by 5.9% in the 1st quarter. Comerica Bank now owns 103,693 shares of the bank’s stock valued at $1,552,000 after buying an additional 5,813 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Brookline Bancorp, Inc. in the 4th quarter valued at about $12,782,000. 76.78% of the stock is currently owned by institutional investors and hedge funds.
Brookline Bancorp, Inc. Company Profile
Brookline Bancorp, Inc. is a multi-bank holding company for Brookline Bank, First Ipswich Bank, and Bank Rhode Island and their subsidiaries. Headquartered in Boston, MA, the Company has $7.29 billion in assets and branches throughout Massachusetts and Rhode Island. As a commercially-focused financial institution, the Company, through its banks, offers a wide range of commercial, business and retail banking services, including a full complement of cash management products, on-line banking services, consumer and residential loans and investment services designed to meet the financial needs of small-to mid-sized businesses and retail customers. The Company also provides equipment financing through its Eastern Funding and Macrolease Corporation subsidiaries.