Brookline Bancorp (NASDAQ:BRKL) Hits New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

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

Brookline Bancorp Stock Performance

The firm has a market capitalization of $1.07 billion, a PE ratio of 14.57 and a beta of 0.76. The business has a 50-day simple moving average of $10.38 and a 200-day simple moving average of $9.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts expect that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given 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 4.47%. Brookline Bancorp’s dividend payout ratio (DPR) is 65.06%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRKL. Quest Partners LLC boosted its position in Brookline Bancorp by 21.2% in the 3rd quarter. Quest Partners LLC now owns 91,682 shares of the bank’s stock valued at $925,000 after buying an additional 16,056 shares during the period. Empowered Funds LLC boosted its holdings in shares of Brookline Bancorp by 5.4% in the third quarter. Empowered Funds LLC now owns 242,690 shares of the bank’s stock valued at $2,449,000 after purchasing an additional 12,328 shares during the period. Aigen Investment Management LP grew its stake in Brookline Bancorp by 136.3% in the third quarter. Aigen Investment Management LP now owns 27,643 shares of the bank’s stock worth $279,000 after purchasing an additional 15,946 shares in the last quarter. Entropy Technologies LP purchased a new position in Brookline Bancorp during the 3rd quarter worth $122,000. Finally, Mayflower Financial Advisors LLC raised its position in Brookline Bancorp by 38.1% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 16,318 shares of the bank’s stock valued at $165,000 after purchasing an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

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.