Brookline Bancorp (BRKL) Downgraded to Strong Sell at BidaskClub

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Brookline Bancorp (NASDAQ:BRKL) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

A number of other equities analysts have also commented on BRKL. Zacks Investment Research lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Brookline Bancorp in a research note on Friday, July 13th. Finally, ValuEngine lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Brookline Bancorp has an average rating of “Hold” and an average target price of $18.67.

Brookline Bancorp stock traded down $0.17 during midday trading on Friday, reaching $15.64. The stock had a trading volume of 175,900 shares, compared to its average volume of 310,267. Brookline Bancorp has a twelve month low of $14.45 and a twelve month high of $19.35. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 19.55 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Brookline Bancorp had a net margin of 19.97% and a return on equity of 8.53%. The firm had revenue of $68.24 million during the quarter, compared to analyst estimates of $69.40 million. Equities analysts forecast that Brookline Bancorp will post 1.08 earnings per share for the current fiscal year.

In other Brookline Bancorp news, insider M Robert Rose sold 4,500 shares of Brookline Bancorp stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $18.35, for a total transaction of $82,575.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James M. Cosman sold 2,750 shares of Brookline Bancorp stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $18.01, for a total transaction of $49,527.50. The disclosure for this sale can be found here. Insiders sold a total of 15,250 shares of company stock valued at $275,853 in the last ninety days. Company insiders own 2.51% of the company’s stock.

Large investors have recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at $143,000. WINTON GROUP Ltd acquired a new stake in shares of Brookline Bancorp during the 1st quarter valued at $181,000. GSA Capital Partners LLP acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at $214,000. Winthrop Advisory Group LLC acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at $265,000. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Brookline Bancorp by 25.7% during the 1st quarter. Xact Kapitalforvaltning AB now owns 18,583 shares of the bank’s stock valued at $301,000 after buying an additional 3,800 shares during the period. 75.79% of the stock is owned by institutional investors.

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.

Further Reading: How to Invest in the Dividend Aristocrat Index

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