Brookline Bancorp (NASDAQ:BRKL) Stock Rating Lowered by BidaskClub

Brookline Bancorp (NASDAQ:BRKL) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, BidAskClub reports.

BRKL has been the subject of a number of other reports. Raymond James assumed coverage on Brookline Bancorp in a report on Tuesday, November 26th. They set a “market perform” rating for the company. ValuEngine cut Brookline Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $16.75.

BRKL stock traded up $0.21 during midday trading on Tuesday, hitting $16.13. The stock had a trading volume of 44,668 shares, compared to its average volume of 208,572. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 15.07 and a beta of 0.89. Brookline Bancorp has a 52 week low of $13.66 and a 52 week high of $16.96. The stock has a 50-day simple moving average of $16.26 and a 200 day simple moving average of $15.22. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.06.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The firm had revenue of $71.17 million during the quarter. Brookline Bancorp had a return on equity of 9.63% and a net margin of 23.28%. On average, equities analysts forecast that Brookline Bancorp will post 1.11 EPS for the current year.

In other news, insider James J. Mccarthy sold 5,532 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $15.84, for a total transaction of $87,626.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Peck sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.35, for a total value of $163,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,532 shares of company stock valued at $568,227 over the last 90 days. Corporate insiders own 2.54% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in Brookline Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 122,213 shares of the bank’s stock valued at $1,800,000 after acquiring an additional 1,460 shares in the last quarter. Bank of America Corp DE lifted its stake in Brookline Bancorp by 21.7% in the 2nd quarter. Bank of America Corp DE now owns 579,280 shares of the bank’s stock valued at $8,909,000 after acquiring an additional 103,216 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Brookline Bancorp by 14.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,419,532 shares of the bank’s stock valued at $35,640,000 after acquiring an additional 296,469 shares in the last quarter. HM Payson & Co. bought a new stake in Brookline Bancorp in the 2nd quarter valued at approximately $100,000. Finally, Millennium Management LLC lifted its stake in Brookline Bancorp by 57.2% in the 3rd quarter. Millennium Management LLC now owns 366,130 shares of the bank’s stock valued at $5,393,000 after acquiring an additional 133,162 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

About Brookline Bancorp

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, as well as commercial, municipal, and retail deposits.

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