Brookline Bancorp (NASDAQ:BRKL) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Brookline Bancorp (NASDAQ:BRKL) from a strong sell rating to a sell rating in a report released on Wednesday, BidAskClub reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Brookline Bancorp from a strong sell rating to a buy rating and set a $11.00 target price on the stock in a report on Wednesday, July 1st. DA Davidson began coverage on shares of Brookline Bancorp in a report on Monday, June 15th. They issued a buy rating on the stock. Compass Point raised Brookline Bancorp from a neutral rating to a buy rating in a research note on Wednesday, May 6th. Finally, Raymond James restated a buy rating on shares of Brookline Bancorp in a research note on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $11.00.

Shares of Brookline Bancorp stock traded up $0.11 on Wednesday, hitting $10.32. 233,207 shares of the company were exchanged, compared to its average volume of 372,570. The stock has a market capitalization of $823.92 million, a price-to-earnings ratio of 17.49 and a beta of 0.73. The company has a 50-day moving average price of $9.69 and a 200 day moving average price of $11.17. Brookline Bancorp has a 1-year low of $8.13 and a 1-year high of $16.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.54.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. Brookline Bancorp had a return on equity of 5.03% and a net margin of 12.65%. The company had revenue of $70.52 million for the quarter, compared to analyst estimates of $72.84 million. Research analysts forecast that Brookline Bancorp will post 0.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, August 6th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 41.82%.

Several institutional investors have recently modified their holdings of BRKL. Norges Bank purchased a new stake in Brookline Bancorp during the 4th quarter worth approximately $15,224,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Brookline Bancorp by 7.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,750,026 shares of the bank’s stock valued at $31,020,000 after purchasing an additional 202,083 shares during the period. Martingale Asset Management L P raised its position in shares of Brookline Bancorp by 230.6% during the 1st quarter. Martingale Asset Management L P now owns 250,908 shares of the bank’s stock worth $2,831,000 after buying an additional 175,008 shares in the last quarter. State Street Corp lifted its holdings in shares of Brookline Bancorp by 5.5% in the first quarter. State Street Corp now owns 2,787,247 shares of the bank’s stock valued at $31,440,000 after buying an additional 145,044 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Brookline Bancorp by 34.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 411,096 shares of the bank’s stock valued at $4,637,000 after purchasing an additional 106,023 shares in the last quarter. Institutional investors own 80.85% 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.

Featured Story: Balanced Fund

Receive News & Ratings for Brookline Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookline Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.