Piper Jaffray Companies Reiterates “Hold” Rating for Brookline Bancorp (BRKL)

Piper Jaffray Companies reiterated their hold rating on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report released on Tuesday. The brokerage currently has a $16.50 price objective on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Brookline Bancorp from a strong-buy rating to a buy rating in a research note on Thursday, December 7th. Sandler O’Neill downgraded shares of Brookline Bancorp from a buy rating to a hold rating in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $16.33.

Shares of Brookline Bancorp (BRKL) traded up $0.10 during trading hours on Tuesday, reaching $16.10. 255,003 shares of the company traded hands, compared to its average volume of 355,086. The company has a market cap of $1,230.00, a P/E ratio of 20.64 and a beta of 0.97. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.16 and a current ratio of 1.16. Brookline Bancorp has a fifty-two week low of $13.60 and a fifty-two week high of $17.45.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.20 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The business had revenue of $62.82 million during the quarter, compared to the consensus estimate of $60.37 million. Brookline Bancorp had a net margin of 19.82% and a return on equity of 7.52%. During the same quarter in the prior year, the firm earned $0.19 EPS. equities analysts predict that Brookline Bancorp will post 0.8 earnings per share for the current fiscal year.

In other Brookline Bancorp news, Director John L. Hall II purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was purchased at an average price of $15.48 per share, with a total value of $309,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Peck sold 16,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $16.38, for a total transaction of $262,080.00. The disclosure for this sale can be found here. Insiders have sold 142,255 shares of company stock valued at $2,138,396 in the last ninety days. Insiders own 2.85% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Brookline Bancorp during the second quarter valued at $150,000. Virtu KCG Holdings LLC bought a new position in shares of Brookline Bancorp during the second quarter valued at $176,000. Victory Capital Management Inc. increased its position in shares of Brookline Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock worth $177,000 after buying an additional 1,819 shares during the period. Sei Investments Co. acquired a new stake in shares of Brookline Bancorp during the third quarter worth $197,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Brookline Bancorp during the second quarter worth $228,000. 77.63% of the stock is owned by hedge funds and other institutional investors.

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Brookline Bancorp Company Profile

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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