Brookline Bancorp (NASDAQ:BRKL) Downgraded by BidaskClub

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Brookline Bancorp (NASDAQ:BRKL) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other research firms have also commented on BRKL. Zacks Investment Research raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Friday, May 3rd. ValuEngine raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Piper Jaffray Companies raised Brookline Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $15.50 to $17.00 in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.38.

Shares of BRKL stock opened at $14.72 on Friday. Brookline Bancorp has a 12 month low of $12.84 and a 12 month high of $19.35. The stock has a market cap of $1.17 billion, a PE ratio of 13.76 and a beta of 0.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.99.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $69.63 million for the quarter, compared to analyst estimates of $69.40 million. Brookline Bancorp had a return on equity of 9.78% and a net margin of 24.61%. Equities analysts predict that Brookline Bancorp will post 1.16 EPS for the current year.

In other Brookline Bancorp news, General Counsel Michael W. Mccurdy sold 2,574 shares of Brookline Bancorp stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $14.89, for a total value of $38,326.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark J. Meiklejohn sold 23,335 shares of Brookline Bancorp stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.04, for a total value of $350,958.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,979 shares of company stock worth $405,539. 2.54% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of BRKL. BlackRock Inc. boosted its holdings in Brookline Bancorp by 1.1% during the 4th quarter. BlackRock Inc. now owns 11,833,148 shares of the bank’s stock valued at $163,534,000 after acquiring an additional 133,973 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Brookline Bancorp by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,515,523 shares of the bank’s stock worth $90,045,000 after buying an additional 122,805 shares during the period. Northern Trust Corp lifted its holdings in Brookline Bancorp by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,490,898 shares of the bank’s stock worth $20,605,000 after buying an additional 5,097 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Brookline Bancorp by 21.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,278,025 shares of the bank’s stock valued at $17,662,000 after purchasing an additional 226,761 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Brookline Bancorp by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 941,698 shares of the bank’s stock valued at $13,014,000 after purchasing an additional 88,617 shares during the period. Institutional investors and hedge funds own 76.80% 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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