StockNews.com Lowers Brookline Bancorp (NASDAQ:BRKL) to Sell

Brookline Bancorp (NASDAQ:BRKL – Get Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Separately, Raymond James began coverage on shares of Brookline Bancorp in a report on Tuesday, December 20th. They issued a “market perform” rating on the stock.

Brookline Bancorp Trading Up 2.6 %

NASDAQ BRKL opened at $11.26 on Wednesday. Brookline Bancorp has a one year low of $10.20 and a one year high of $16.76. The company’s 50 day moving average price is $13.09 and its 200 day moving average price is $13.14. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $998.42 million, a price-to-earnings ratio of 7.67 and a beta of 0.69.

Brookline Bancorp (NASDAQ:BRKL – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Brookline Bancorp had a net margin of 29.38% and a return on equity of 11.42%. The business had revenue of $112.46 million during the quarter, compared to analysts’ expectations of $87.79 million. During the same quarter in the previous year, the business posted $0.37 EPS. On average, sell-side analysts predict that Brookline Bancorp will post 1.46 EPS for the current year.

Insider Activity

In other news, Director Bogdan Nowak acquired 25,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $10.70 per share, for a total transaction of $267,500.00. Following the completion of the purchase, the director now directly owns 218,662 shares of the company’s stock, valued at approximately $2,339,683.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Michael P. Goldrick sold 17,023 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $13.09, for a total transaction of $222,831.07. Following the completion of the sale, the chief executive officer now owns 15,063 shares of the company’s stock, valued at $197,174.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bogdan Nowak purchased 25,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $10.70 per share, with a total value of $267,500.00. Following the transaction, the director now directly owns 218,662 shares of the company’s stock, valued at approximately $2,339,683.40. The disclosure for this purchase can be found here. Insiders have bought 40,500 shares of company stock worth $458,360 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Brookline Bancorp

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of Brookline Bancorp during the first quarter worth approximately $45,000. US Asset Management LLC acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth approximately $49,000. Point72 Hong Kong Ltd acquired a new stake in shares of Brookline Bancorp during the third quarter worth approximately $62,000. Denali Advisors LLC acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth approximately $78,000. Finally, Howland Capital Management LLC acquired a new stake in shares of Brookline Bancorp during the third quarter worth approximately $118,000. Institutional investors and hedge funds own 82.28% of the company’s stock.

Brookline Bancorp Company Profile

(Get Rating)

Brookline Bancorp, Inc is a multi-bank holding company that engages in the provision of financial solutions through its subsidiaries. The firm offers a range of commercial, business, and retail banking services, including cash management products, on-line banking services, consumer and residential loans, and investment services for small to mid-sized businesses and retail customers.