Brookline Bancorp (NASDAQ:BRKL) Sets New 1-Year High – Here’s What Happened

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.31 and last traded at $12.31, with a volume of 29324 shares. The stock had previously closed at $11.21.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research report on Friday, July 26th.

Brookline Bancorp Stock Up 10.1 %

The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.11 and a current ratio of 1.13. The company has a market cap of $1.10 billion, a P/E ratio of 13.51 and a beta of 0.76. The business’s fifty day moving average is $10.30 and its two-hundred day moving average is $9.51.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The business had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. During the same period in the previous year, the company posted $0.26 EPS. Equities analysts predict that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.38%. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Institutional Investors Weigh In On Brookline Bancorp

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Brookline Bancorp by 58.7% in the 1st quarter. BNP Paribas Financial Markets now owns 61,475 shares of the bank’s stock valued at $612,000 after purchasing an additional 22,749 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Brookline Bancorp by 26.2% during the first quarter. Sei Investments Co. now owns 47,640 shares of the bank’s stock worth $474,000 after buying an additional 9,878 shares during the period. ProShare Advisors LLC grew its holdings in shares of Brookline Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock valued at $176,000 after buying an additional 1,223 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Brookline Bancorp by 126.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 56,337 shares of the bank’s stock worth $592,000 after acquiring an additional 31,410 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Brookline Bancorp by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank’s stock worth $101,049,000 after acquiring an additional 54,211 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.