Brookline Bancorp (NASDAQ:BRKL) Stock Rating Lowered by StockNews.com

Brookline Bancorp (NASDAQ:BRKL – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Separately, Raymond James assumed coverage on shares of Brookline Bancorp in a research note on Tuesday, December 20th. They set a “market perform” rating on the stock.

Brookline Bancorp Stock Up 2.6 %

Shares of Brookline Bancorp stock opened at $11.26 on Wednesday. The company has a market cap of $998.42 million, a P/E ratio of 7.67 and a beta of 0.69. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.18 and a current ratio of 1.18. Brookline Bancorp has a one year low of $10.20 and a one year high of $16.76. The firm has a fifty day moving average of $13.09 and a two-hundred day moving average of $13.14.

Brookline Bancorp (NASDAQ:BRKL – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Brookline Bancorp had a return on equity of 11.42% and a net margin of 29.38%. The company had revenue of $112.46 million for the quarter, compared to analyst estimates of $87.79 million. During the same period last year, the company earned $0.37 earnings per share. On average, analysts forecast that Brookline Bancorp will post 1.46 earnings per share for the current year.

Insider Transactions at Brookline Bancorp

In other Brookline Bancorp news, Director Bogdan Nowak acquired 25,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $10.70 per share, with a total value of $267,500.00. Following the purchase, the director now owns 218,662 shares in the company, valued at $2,339,683.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brookline Bancorp news, Director Bogdan Nowak acquired 25,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $10.70 per share, with a total value of $267,500.00. Following the purchase, the director now owns 218,662 shares in the company, valued at $2,339,683.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Goldrick sold 17,023 shares of the stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $13.09, for a total transaction of $222,831.07. Following the completion of the sale, the chief executive officer now directly owns 15,063 shares in the company, valued at $197,174.67. The disclosure for this sale can be found here. Insiders have purchased a total of 40,500 shares of company stock valued at $458,360 in the last ninety days. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brookline Bancorp

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Brookline Bancorp during the 4th quarter worth about $8,501,000. Invesco Ltd. boosted its stake in shares of Brookline Bancorp by 125.5% during the 1st quarter. Invesco Ltd. now owns 1,055,528 shares of the bank’s stock worth $16,698,000 after purchasing an additional 587,460 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Brookline Bancorp by 6.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,063,640 shares of the bank’s stock worth $57,501,000 after purchasing an additional 246,843 shares during the last quarter. State Street Corp boosted its stake in shares of Brookline Bancorp by 6.6% during the 1st quarter. State Street Corp now owns 3,390,965 shares of the bank’s stock worth $53,645,000 after purchasing an additional 210,204 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Brookline Bancorp by 1.8% during the 1st quarter. BlackRock Inc. now owns 11,462,089 shares of the bank’s stock worth $181,333,000 after purchasing an additional 197,693 shares during the last quarter. 82.28% of the stock is owned by institutional investors and hedge funds.

Brookline Bancorp Company Profile

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Brookline Bancorp, Inc is a multi-bank holding company that engages in the provision of financial solutions through its subsidiaries. The firm offers a range of commercial, business, and retail banking services, including cash management products, on-line banking services, consumer and residential loans, and investment services for small to mid-sized businesses and retail customers.