Brookline Bancorp (BRKL) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Brookline Bancorp (NASDAQ:BRKL) from a sell rating to a hold rating in a report published on Thursday morning.
According to Zacks, “Brookline Bancorp, Inc. is a holding company for Brookline Savings Bank. “
Several other research firms have also commented on BRKL. BidaskClub raised shares of Brookline Bancorp from a buy rating to a strong-buy rating in a research report on Wednesday, June 6th. Keefe, Bruyette & Woods restated a hold rating and set a $19.00 price objective on shares of Brookline Bancorp in a report on Friday, July 13th. Finally, ValuEngine downgraded shares of Brookline Bancorp from a buy rating to a hold rating in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Brookline Bancorp has a consensus rating of Hold and an average price target of $18.67.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, July 25th. The bank reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $68.24 million during the quarter, compared to analyst estimates of $69.40 million. Brookline Bancorp had a net margin of 19.97% and a return on equity of 8.53%. equities analysts predict that Brookline Bancorp will post 1.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 2.27%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 50.00%.
In other news, Director David C. Chapin sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $18.01, for a total transaction of $90,050.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James M. Cosman sold 2,750 shares of the company’s stock in a transaction dated 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. In the last 90 days, insiders have sold 15,250 shares of company stock worth $275,853. Corporate insiders own 2.51% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Brookline Bancorp by 0.6% in the 1st 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 period. MetLife Investment Advisors LLC increased its holdings in Brookline Bancorp by 11.0% in the 2nd 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 period. Victory Capital Management Inc. increased its holdings in Brookline Bancorp by 15.9% in the 2nd 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 period. Xact Kapitalforvaltning AB increased its holdings in Brookline Bancorp by 25.7% in the 1st 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 period. Finally, Comerica Bank increased its holdings in Brookline Bancorp by 4.1% in the 2nd 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 period. Institutional investors 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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