Brookline Bancorp (NASDAQ:BRKL) Reaches New 1-Year High – Here’s Why

Brookline Bancorp, Inc. (NASDAQ:BRKL)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.93 and last traded at $12.90, with a volume of 47275 shares traded. The stock had previously closed at $12.76.

Analysts Set New Price Targets

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

Brookline Bancorp Trading Up 0.3 %

The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.37 and a beta of 0.76. The company has a quick ratio of 1.11, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average of $10.47 and a 200-day moving average of $9.60.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities research analysts predict that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

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 dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.22%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRKL. BNP Paribas Financial Markets grew its stake in shares of Brookline Bancorp by 58.7% in the first quarter. BNP Paribas Financial Markets now owns 61,475 shares of the bank’s stock worth $612,000 after purchasing an additional 22,749 shares during the last quarter. Sei Investments Co. increased its stake in Brookline Bancorp by 26.2% in the 1st quarter. Sei Investments Co. now owns 47,640 shares of the bank’s stock valued at $474,000 after buying an additional 9,878 shares during the last quarter. ProShare Advisors LLC increased its stake in Brookline Bancorp by 7.4% in the 1st 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 increased 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 valued at $592,000 after buying an additional 31,410 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Brookline Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank’s stock valued at $101,049,000 after buying an additional 54,211 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

About Brookline Bancorp

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.