Brookline Bancorp’s (BRKL) Hold Rating Reiterated at Piper Jaffray Companies

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

BRKL has been the subject of a number of other research reports. BidaskClub lowered shares of Brookline Bancorp from a strong-buy rating to a buy rating in a research note on Thursday, December 7th. Sandler O’Neill lowered 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. Brookline Bancorp presently has a consensus rating of Hold and an average target price of $16.33.

Shares of Brookline Bancorp (NASDAQ:BRKL) traded down $0.10 during trading hours on Tuesday, hitting $16.25. 215,868 shares of the company’s stock were exchanged, compared to its average volume of 325,556. The firm has a market cap of $1,230.00, a price-to-earnings ratio of 20.83 and a beta of 0.97. Brookline Bancorp has a 52 week low of $13.60 and a 52 week high of $17.45. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.21.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 18th. The bank reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $62.82 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.19 EPS. sell-side analysts expect that Brookline Bancorp will post 0.8 earnings per share for the current year.

In other news, Director David C. Chapin sold 5,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $14.70, for a total transaction of $73,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Hollister sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $15.75, for a total transaction of $55,125.00. Following the transaction, the director now owns 28,500 shares in the company, valued at approximately $448,875. The disclosure for this sale can be found here. Insiders have sold a total of 142,255 shares of company stock valued at $2,138,396 in the last three months. Company insiders own 2.85% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Brookline Bancorp by 6.5% during the 2nd quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock valued at $135,794,000 after purchasing an additional 564,134 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Brookline Bancorp by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,931,162 shares of the bank’s stock valued at $101,195,000 after purchasing an additional 376,821 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Brookline Bancorp by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,316,348 shares of the bank’s stock valued at $97,903,000 after purchasing an additional 107,716 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Brookline Bancorp by 63.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,813,898 shares of the bank’s stock valued at $59,115,000 after purchasing an additional 1,483,727 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Brookline Bancorp by 11.0% during the 2nd quarter. State Street Corp now owns 2,579,882 shares of the bank’s stock valued at $37,666,000 after purchasing an additional 255,702 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

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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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