Brookline Bancorp (BRKL) Receives Hold Rating from Piper Jaffray Companies
Brookline Bancorp (NASDAQ:BRKL)‘s stock had its “hold” rating reissued by equities research analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They currently have a $16.50 price target on the bank’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 3.13% from the company’s previous close.
Several other brokerages also recently commented on BRKL. Sandler O’Neill downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. BidaskClub downgraded shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.33.
Brookline Bancorp (NASDAQ BRKL) opened at $16.00 on Tuesday. Brookline Bancorp has a one year low of $13.60 and a one year high of $17.45. The firm has a market cap of $1,222.60, a P/E ratio of 20.51 and a beta of 0.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.21.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $0.20 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. Brookline Bancorp had a net margin of 19.82% and a return on equity of 7.52%. The firm had revenue of $62.82 million during the quarter, compared to the consensus estimate of $60.37 million. During the same period last year, the firm earned $0.19 EPS. equities analysts predict that Brookline Bancorp will post 0.8 earnings per share for the current fiscal year.
In other news, Director Thomas J. Hollister sold 3,500 shares of Brookline Bancorp stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $15.75, for a total transaction of $55,125.00. Following the completion of the sale, the director now directly owns 28,500 shares of the company’s stock, valued at approximately $448,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul A. Perrault sold 103,255 shares of Brookline Bancorp stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $14.69, for a total transaction of $1,516,815.95. Following the sale, the chief executive officer now directly owns 421,122 shares of the company’s stock, valued at $6,186,282.18. The disclosure for this sale can be found here. Insiders have sold a total of 142,255 shares of company stock valued at $2,138,396 over the last ninety days. 2.85% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Brookline Bancorp by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 28,710 shares of the bank’s stock worth $445,000 after acquiring an additional 10,630 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Brookline Bancorp by 6.5% during the 2nd quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock worth $135,794,000 after acquiring an additional 564,134 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Brookline Bancorp by 34.5% during the 2nd quarter. Stifel Financial Corp now owns 45,583 shares of the bank’s stock worth $666,000 after acquiring an additional 11,700 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Brookline Bancorp during the 2nd quarter worth $312,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Brookline Bancorp during the 3rd quarter worth $252,000. 77.63% of the stock is owned by institutional investors.
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Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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