Brookline Bancorp, Inc. (NASDAQ:BRKL) insider Mark J. Meiklejohn sold 23,335 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.04, for a total transaction of $350,958.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BRKL stock traded down $0.17 during midday trading on Wednesday, hitting $14.84. The stock had a trading volume of 205,636 shares, compared to its average volume of 262,175. The stock has a market capitalization of $1.17 billion, a P/E ratio of 13.93 and a beta of 0.90. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.13. Brookline Bancorp, Inc. has a 12-month low of $12.84 and a 12-month high of $19.35.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, April 24th. The bank reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $69.63 million during the quarter, compared to analysts’ expectations of $69.40 million. Brookline Bancorp had a net margin of 24.61% and a return on equity of 9.78%. Research analysts forecast that Brookline Bancorp, Inc. will post 1.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.11 dividend. This is a boost from Brookline Bancorp’s previous quarterly dividend of $0.11. This represents a $0.44 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, May 9th. Brookline Bancorp’s payout ratio is presently 41.12%.

A number of brokerages have issued reports on BRKL. ValuEngine cut shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Zacks Investment Research raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Friday, May 3rd. BidaskClub raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Piper Jaffray Companies raised shares of Brookline Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the company from $15.50 to $17.00 in a report on Thursday, May 2nd. Finally, Sandler O’Neill cut shares of Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.38.

Hedge funds have recently added to or reduced their stakes in the business. BlueMountain Capital Management LLC increased its stake in Brookline Bancorp by 70.2% during the 1st quarter. BlueMountain Capital Management LLC now owns 16,097 shares of the bank’s stock worth $232,000 after buying an additional 6,642 shares during the period. CWM Advisors LLC bought a new stake in shares of Brookline Bancorp in the 1st quarter worth about $157,000. Hotchkis & Wiley Capital Management LLC increased its position in shares of Brookline Bancorp by 291.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 282,407 shares of the bank’s stock worth $4,067,000 after purchasing an additional 210,210 shares during the last quarter. SEI Investments Co increased its position in shares of Brookline Bancorp by 178.9% in the 1st quarter. SEI Investments Co now owns 39,044 shares of the bank’s stock worth $562,000 after purchasing an additional 25,044 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Brookline Bancorp by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,581,485 shares of the bank’s stock worth $37,174,000 after purchasing an additional 163,283 shares during the last quarter. 76.80% of the stock is owned by hedge funds and other institutional investors.

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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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