Insider Selling: Brookline Bancorp, Inc. (BRKL) CEO Sells 103,255 Shares of Stock
Brookline Bancorp, Inc. (NASDAQ:BRKL) CEO Paul A. Perrault sold 103,255 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total value of $1,516,815.95. Following the completion of the transaction, the chief executive officer now owns 421,122 shares of the company’s stock, valued at approximately $6,186,282.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Brookline Bancorp, Inc. (BRKL) traded up $0.10 during trading hours on Monday, reaching $14.60. The company’s stock had a trading volume of 174,800 shares, compared to its average volume of 395,425. The stock has a market capitalization of $1,119.13, a PE ratio of 18.72 and a beta of 0.96. Brookline Bancorp, Inc. has a 1-year low of $13.60 and a 1-year high of $17.45. 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 data on Wednesday, October 18th. The bank reported $0.20 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.20. The business had revenue of $62.82 million during the quarter, compared to analysts’ expectations of $60.37 million. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. During the same quarter in the previous year, the business earned $0.19 earnings per share. sell-side analysts predict that Brookline Bancorp, Inc. will post 0.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, November 2nd. Brookline Bancorp’s payout ratio is 46.15%.
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A number of research analysts have recently commented on BRKL shares. Sandler O’Neill upgraded Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, August 21st. They noted that the move was a valuation call. BidaskClub upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Brookline Bancorp currently has a consensus rating of “Hold” and a consensus price target of $15.83.
Large investors have recently made changes to their positions in the business. Amalgamated Bank purchased a new position in Brookline Bancorp during the second quarter valued at $150,000. Alpine Woods Capital Investors LLC raised its stake in Brookline Bancorp by 20.0% during the second quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after buying an additional 2,000 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Brookline Bancorp during the second quarter valued at $176,000. Victory Capital Management Inc. raised its stake in Brookline Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after buying an additional 1,819 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Brookline Bancorp during the third quarter valued at $197,000. Institutional investors and hedge funds own 76.53% of the company’s stock.
About Brookline Bancorp
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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