Brookline Bancorp, Inc. (NASDAQ:BRKL) reached a new 52-week high during trading on Friday . The company traded as high as $17.15 and last traded at $17.15, with a volume of 192847 shares trading hands. The stock had previously closed at $16.90.
A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $16.50 price objective on shares of Brookline Bancorp in a research note on Tuesday, January 9th. Finally, BidaskClub downgraded shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $16.33.
The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $1,290.70, a PE ratio of 24.85 and a beta of 0.91.
Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, January 31st. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Brookline Bancorp had a net margin of 17.11% and a return on equity of 7.58%. The company had revenue of $63.47 million for the quarter, compared to the consensus estimate of $61.22 million. During the same quarter in the previous year, the company earned $0.19 EPS. analysts forecast that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.36 annualized dividend and a yield of 2.12%. Brookline Bancorp’s payout ratio is 52.94%.
In other Brookline Bancorp news, insider Darryl J. Fess sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $16.49, for a total transaction of $329,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO James M. Cosman sold 12,500 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $16.76, for a total transaction of $209,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,500 shares of company stock worth $784,850. Corporate insiders own 2.85% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan raised its holdings in Brookline Bancorp by 58.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 28,710 shares of the bank’s stock worth $445,000 after buying an additional 10,630 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Brookline Bancorp by 11.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 365,963 shares of the bank’s stock worth $5,673,000 after acquiring an additional 38,745 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Brookline Bancorp by 5.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,024,839 shares of the bank’s stock worth $63,190,000 after acquiring an additional 210,941 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Brookline Bancorp in the 3rd quarter worth $252,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Brookline Bancorp by 8.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 105,252 shares of the bank’s stock worth $1,632,000 after acquiring an additional 8,131 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.
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Brookline Bancorp Company Profile
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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