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

BRKL has been the topic of a number of other research reports. ValuEngine downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $18.50 price target on shares of Brookline Bancorp in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.67.

Shares of Brookline Bancorp stock traded down $0.17 during midday trading on Friday, reaching $15.64. 175,900 shares of the company’s stock traded hands, compared to its average volume of 310,267. The company has a market capitalization of $1.29 billion, a P/E ratio of 19.55 and a beta of 0.79. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.25. Brookline Bancorp has a 52 week low of $14.45 and a 52 week high of $19.35.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, July 25th. The bank reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $68.24 million for the quarter, compared to the consensus estimate of $69.40 million. Brookline Bancorp had a net margin of 19.97% and a return on equity of 8.53%. On average, equities research analysts predict that Brookline Bancorp will post 1.08 earnings per share for the current year.

In related news, General Counsel Michael W. Mccurdy sold 3,000 shares of Brookline Bancorp stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $17.90, for a total value of $53,700.00. The sale was disclosed in a filing with the SEC, 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 stock was 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 worth $275,853 in the last quarter. Insiders own 2.51% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised 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 acquiring an additional 3,558 shares during the period. MetLife Investment Advisors LLC raised 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 acquiring an additional 3,641 shares during the period. Victory Capital Management Inc. raised 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 acquiring an additional 3,791 shares during the period. Xact Kapitalforvaltning AB raised 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 acquiring an additional 3,800 shares during the period. Finally, Comerica Bank raised 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 acquiring an additional 4,129 shares during the period. Hedge funds and other institutional investors own 75.79% of the company’s stock.

About Brookline Bancorp

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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