BidaskClub Downgrades Brookline Bancorp, Inc. (BRKL) to Sell

Brookline Bancorp, Inc. (NASDAQ:BRKL) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts also recently commented on the stock. Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 price objective on shares of Brookline Bancorp in a research report on Friday, July 14th. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.00 to $16.50 in a research report on Thursday, April 27th.

Shares of Brookline Bancorp (BRKL) opened at 13.90 on Friday. The company has a 50-day moving average of $14.60 and a 200-day moving average of $14.92. The company has a market capitalization of $1.06 billion, a PE ratio of 18.05 and a beta of 0.97. Brookline Bancorp has a one year low of $11.07 and a one year high of $17.45.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The company had revenue of $60.10 million during the quarter, compared to the consensus estimate of $58.08 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. On average, analysts anticipate that Brookline Bancorp will post $0.79 earnings per share for the current year.

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In other news, General Counsel Michael W. Mccurdy sold 4,895 shares of Brookline Bancorp stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $14.20, for a total value of $69,509.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.85% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Brookline Bancorp by 6.5% in the second quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock valued at $135,794,000 after buying an additional 564,134 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Brookline Bancorp by 5.7% in the second quarter. Vanguard Group Inc. now owns 6,931,162 shares of the bank’s stock valued at $101,195,000 after buying an additional 376,821 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Brookline Bancorp by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,208,632 shares of the bank’s stock valued at $90,647,000 after buying an additional 279,758 shares during the last quarter. State Street Corp increased its stake in shares of Brookline Bancorp by 11.4% in the first quarter. State Street Corp now owns 2,324,180 shares of the bank’s stock valued at $36,377,000 after buying an additional 237,230 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Brookline Bancorp by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 2,277,891 shares of the bank’s stock valued at $35,648,000 after buying an additional 24,588 shares during the last quarter. 71.92% of the stock is owned by institutional investors and hedge funds.

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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