Brookline Bancorp (NASDAQ:BRKL) Reaches New 1-Year High – Should You Buy?

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

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on shares of 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 Performance

The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a 50-day moving average price of $10.58 and a 200-day moving average price of $9.65. The firm has a market capitalization of $1.13 billion, a PE ratio of 15.31 and a beta of 0.76.

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

Brookline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Institutional Investors Weigh In On Brookline Bancorp

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in Brookline Bancorp by 21.1% in the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after buying an additional 249,113 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after acquiring an additional 158,329 shares during the last quarter. Inspire Advisors LLC acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at approximately $1,298,000. Hennion & Walsh Asset Management Inc. lifted its stake in Brookline Bancorp by 4.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock worth $435,000 after purchasing an additional 2,097 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after purchasing an additional 258,267 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

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.