Brookline Bancorp (BRKL) Downgraded by ValuEngine

ValuEngine cut shares of Brookline Bancorp (NASDAQ:BRKL) from a hold rating to a sell rating in a research report report published on Friday.

BRKL has been the topic of several other reports. Sandler O’Neill raised Brookline Bancorp from a hold rating to a buy rating and set a $16.00 target price on the stock in a research note on Thursday, December 20th. Compass Point cut Brookline Bancorp from a buy rating to a neutral rating in a research note on Tuesday, January 8th. BidaskClub cut Brookline Bancorp from a sell rating to a strong sell rating in a research note on Thursday, March 14th. Finally, Zacks Investment Research raised Brookline Bancorp from a sell rating to a hold rating in a research note on Tuesday, January 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $17.50.

NASDAQ BRKL opened at $14.98 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $1.20 billion, a P/E ratio of 14.00 and a beta of 0.93. Brookline Bancorp has a 1 year low of $12.84 and a 1 year high of $19.35.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, January 30th. The bank reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The company had revenue of $69.62 million for the quarter, compared to analysts’ expectations of $68.10 million. Brookline Bancorp had a return on equity of 9.58% and a net margin of 24.49%. As a group, analysts anticipate that Brookline Bancorp will post 1.1 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 25th. Shareholders of record on Monday, February 11th were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Friday, February 8th. This represents a $0.42 annualized dividend and a yield of 2.80%. Brookline Bancorp’s payout ratio is 39.25%.

Brookline Bancorp announced that its board has authorized a stock buyback plan on Thursday, December 6th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other Brookline Bancorp news, Director Charles H. Peck sold 12,000 shares of Brookline Bancorp stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $16.09, for a total transaction of $193,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.51% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Brookline Bancorp by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after acquiring an additional 260,206 shares in the last quarter. M&T Bank Corp bought a new stake in Brookline Bancorp during the 4th quarter valued at approximately $916,000. BlackRock Inc. boosted its position in Brookline Bancorp by 4.9% during the 3rd quarter. BlackRock Inc. now owns 11,699,175 shares of the bank’s stock valued at $195,375,000 after acquiring an additional 549,170 shares in the last quarter. Winthrop Advisory Group LLC boosted its position in Brookline Bancorp by 13,358.5% during the 4th quarter. Winthrop Advisory Group LLC now owns 14,266 shares of the bank’s stock valued at $197,000 after acquiring an additional 14,160 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Brookline Bancorp by 49.4% during the 3rd 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 in the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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

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