Brookline Bancorp, Inc. (NASDAQ:BRKL) General Counsel Michael W. Mccurdy sold 2,574 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $14.89, for a total transaction of $38,326.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
BRKL traded down $0.07 during trading on Friday, hitting $14.72. The company’s stock had a trading volume of 181,516 shares, compared to its average volume of 261,423. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.99. Brookline Bancorp, Inc. has a one year low of $12.84 and a one year high of $19.35. The company has a market capitalization of $1.17 billion, a PE ratio of 13.76 and a beta of 0.90.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Brookline Bancorp had a net margin of 24.61% and a return on equity of 9.78%. The business had revenue of $69.63 million for the quarter, compared to the consensus estimate of $69.40 million. Equities analysts forecast that Brookline Bancorp, Inc. will post 1.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from Brookline Bancorp’s previous quarterly dividend of $0.11. This represents a $0.44 annualized dividend and a yield of 2.99%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 41.12%.
A number of research analysts recently weighed in on BRKL shares. BidaskClub downgraded shares of Brookline Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 14th. ValuEngine downgraded shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Zacks Investment Research upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, May 3rd. Finally, Piper Jaffray Companies upgraded shares of Brookline Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $15.50 to $17.00 in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.38.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlueMountain Capital Management LLC raised its position in Brookline Bancorp by 70.2% in the first quarter. BlueMountain Capital Management LLC now owns 16,097 shares of the bank’s stock worth $232,000 after acquiring an additional 6,642 shares during the period. CWM Advisors LLC bought a new position in Brookline Bancorp in the first quarter worth approximately $157,000. Hotchkis & Wiley Capital Management LLC raised its position in Brookline Bancorp by 291.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 282,407 shares of the bank’s stock worth $4,067,000 after acquiring an additional 210,210 shares during the period. SEI Investments Co raised its position in Brookline Bancorp by 178.9% in the first quarter. SEI Investments Co now owns 39,044 shares of the bank’s stock worth $562,000 after acquiring an additional 25,044 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Brookline Bancorp by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,581,485 shares of the bank’s stock worth $37,174,000 after acquiring an additional 163,283 shares during the period. Institutional investors and hedge funds own 76.80% 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, as well as commercial, municipal, and retail deposits.
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