BidaskClub downgraded shares of Brookline Bancorp (NASDAQ:BRKL) from a hold rating to a sell rating in a research note released on Thursday morning.

BRKL has been the topic of a number of other research reports. Zacks Investment Research raised shares of Brookline Bancorp from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Tuesday, June 19th. Keefe, Bruyette & Woods reissued a hold rating and issued a $19.00 price objective on shares of Brookline Bancorp in a research report on Friday, July 13th. Finally, ValuEngine lowered shares of Brookline Bancorp from a buy rating to a hold rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has a consensus rating of Hold and an average price target of $18.67.

Shares of BRKL opened at $18.00 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.17 and a current ratio of 1.17. Brookline Bancorp has a twelve month low of $13.63 and a twelve month high of $19.35. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 22.50 and a beta of 0.85.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, July 25th. The bank reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $69.40 million. analysts anticipate that Brookline Bancorp will post 1.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 9th. Brookline Bancorp’s dividend payout ratio is presently 50.00%.

In other news, insider James M. Cosman sold 2,750 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $18.01, for a total value of $49,527.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David C. Chapin sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $18.01, for a total transaction of $90,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,250 shares of company stock worth $222,153. 2.51% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Brookline Bancorp by 0.6% during the first quarter. Principal Financial Group Inc. now owns 588,866 shares of the bank’s stock worth $9,540,000 after buying an additional 3,558 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Brookline Bancorp by 11.0% during the second quarter. MetLife Investment Advisors LLC now owns 36,642 shares of the bank’s stock worth $682,000 after buying an additional 3,641 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Brookline Bancorp by 15.9% during the second quarter. Victory Capital Management Inc. now owns 27,638 shares of the bank’s stock worth $514,000 after buying an additional 3,791 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Brookline Bancorp by 25.7% during the first quarter. Xact Kapitalforvaltning AB now owns 18,583 shares of the bank’s stock worth $301,000 after buying an additional 3,800 shares during the last quarter. Finally, Comerica Bank increased its holdings in Brookline Bancorp by 4.1% during the second quarter. Comerica Bank now owns 104,928 shares of the bank’s stock worth $1,931,000 after buying an additional 4,129 shares during the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

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.

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