Brookline Bancorp, Inc. (BRKL) Downgraded by Sandler O’Neill to Hold

Sandler O’Neill lowered shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) from a buy rating to a hold rating in a report published on Thursday, October 19th, MarketBeat reports.

Several other equities research analysts have also commented on BRKL. Piper Jaffray Companies restated a hold rating and issued a $15.00 price objective on shares of Brookline Bancorp in a research report on Friday, July 14th. BidaskClub downgraded Brookline Bancorp from a hold rating to a sell rating in a research note on Saturday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $15.83.

Brookline Bancorp (NASDAQ BRKL) traded up 0.63% on Thursday, reaching $15.85. 261,254 shares of the company traded hands. The stock’s 50 day moving average price is $15.31 and its 200 day moving average price is $14.66. Brookline Bancorp has a one year low of $12.43 and a one year high of $17.45. The company has a market capitalization of $1.21 billion, a PE ratio of 20.58 and a beta of 0.99.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $0.20 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. The business had revenue of $62.82 million for the quarter, compared to analyst estimates of $60.37 million. During the same quarter in the prior year, the firm posted $0.19 EPS. On average, equities research analysts predict that Brookline Bancorp will post $0.79 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, November 2nd. Brookline Bancorp’s payout ratio is 46.15%.

A number of hedge funds and other institutional investors have recently bought and sold shares of BRKL. Amalgamated Bank acquired a new position in Brookline Bancorp in the 2nd quarter valued at $150,000. Victory Capital Management Inc. acquired a new position in Brookline Bancorp in the 1st quarter valued at $161,000. Alpine Woods Capital Investors LLC raised its stake in Brookline Bancorp by 20.0% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after purchasing an additional 2,000 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Brookline Bancorp in the 2nd quarter valued at $176,000. Finally, Eqis Capital Management Inc. raised its stake in Brookline Bancorp by 5.4% in the 2nd quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock valued at $209,000 after purchasing an additional 738 shares during the last quarter. 77.85% of the stock is owned by hedge funds and other 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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