Brookline Bancorp (NASDAQ:BRKL)‘s stock had its “hold” rating restated by stock analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They presently have a $16.50 price target on the bank’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 2.48% from the company’s current price.
Several other equities analysts have also weighed in on BRKL. Sandler O’Neill lowered Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. BidaskClub lowered Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.33.
Shares of Brookline Bancorp (BRKL) traded up $0.10 during trading hours on Tuesday, reaching $16.10. The company’s stock had a trading volume of 255,000 shares, compared to its average volume of 355,086. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.21. Brookline Bancorp has a 12-month low of $13.60 and a 12-month high of $17.45. The firm has a market cap of $1,230.00, a price-to-earnings ratio of 20.64 and a beta of 0.97.
Brookline Bancorp (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 analysts’ consensus estimates of $0.20. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. The firm had revenue of $62.82 million for the quarter, compared to analyst estimates of $60.37 million. During the same period last year, the company earned $0.19 EPS. equities analysts predict that Brookline Bancorp will post 0.8 earnings per share for the current year.
In other news, insider M Robert Rose sold 12,500 shares of Brookline Bancorp stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $16.07, for a total value of $200,875.00. Following the transaction, the insider now directly owns 35,277 shares of the company’s stock, valued at approximately $566,901.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Hackett sold 2,000 shares of Brookline Bancorp stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $15.00, for a total value of $30,000.00. The disclosure for this sale can be found here. Insiders sold a total of 142,255 shares of company stock worth $2,138,396 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRKL. Schwab Charles Investment Management Inc. raised its holdings in shares of Brookline Bancorp by 11.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 327,218 shares of the bank’s stock valued at $4,778,000 after buying an additional 32,426 shares during the period. Rhumbline Advisers raised its holdings in shares of Brookline Bancorp by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 153,870 shares of the bank’s stock valued at $2,247,000 after buying an additional 7,778 shares during the period. Legal & General Group Plc raised its holdings in shares of Brookline Bancorp by 25.0% during the 2nd quarter. Legal & General Group Plc now owns 146,735 shares of the bank’s stock valued at $2,142,000 after buying an additional 29,343 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Brookline Bancorp by 63.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,900 shares of the bank’s stock valued at $349,000 after buying an additional 9,262 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Brookline Bancorp by 17.6% during 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 during the period. 77.63% of the stock is currently owned by institutional investors and hedge funds.
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About Brookline Bancorp
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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