Brookline Bancorp, Inc. (NASDAQ:BRKL) – Stock analysts at Piper Jaffray Companies decreased their FY2019 earnings estimates for shares of Brookline Bancorp in a research report issued to clients and investors on Wednesday, October 31st. Piper Jaffray Companies analyst M. Breese now anticipates that the bank will earn $1.08 per share for the year, down from their previous estimate of $1.15.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research raised Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 28th. BidaskClub raised Brookline Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.50 price target on shares of Brookline Bancorp in a report on Wednesday, August 8th. Finally, ValuEngine downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.67.
Shares of NASDAQ:BRKL traded up $0.03 during midday trading on Friday, reaching $15.51. 13,395 shares of the company’s stock traded hands, compared to its average volume of 263,554. The company has a market cap of $1.26 billion, a P/E ratio of 19.39 and a beta of 0.79. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17. Brookline Bancorp has a one year low of $14.45 and a one year high of $19.35.
Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Brookline Bancorp had a return on equity of 9.13% and a net margin of 21.27%. The business had revenue of $69.40 million for the quarter, compared to the consensus estimate of $68.80 million.
A number of institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in Brookline Bancorp by 49.4% during the third quarter. Victory Capital Management Inc. now owns 41,300 shares of the bank’s stock valued at $690,000 after acquiring an additional 13,662 shares during the last quarter. Moody Aldrich Partners LLC increased its position in Brookline Bancorp by 19.1% in the third quarter. Moody Aldrich Partners LLC now owns 314,836 shares of the bank’s stock worth $5,258,000 after buying an additional 50,528 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Brookline Bancorp by 10.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 61,806 shares of the bank’s stock worth $1,032,000 after buying an additional 6,013 shares in the last quarter. First Trust Advisors LP increased its position in Brookline Bancorp by 3.5% in the third quarter. First Trust Advisors LP now owns 142,323 shares of the bank’s stock worth $2,377,000 after buying an additional 4,781 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Brookline Bancorp by 17.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,051,264 shares of the bank’s stock worth $17,556,000 after buying an additional 157,280 shares in the last quarter. Institutional investors own 76.24% of the company’s stock.
In related news, insider James M. Cosman sold 2,750 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $18.01, for a total transaction of $49,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Chapin sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.01, for a total value of $90,050.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,750 shares of company stock valued at $193,278. 2.51% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be issued a dividend of $0.105 per share. This is an increase from Brookline Bancorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, November 8th. Brookline Bancorp’s dividend payout ratio is presently 50.00%.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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