Brookline Bancorp (NASDAQ:BRKL) Sets New 52-Week High at $17.66

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) reached a new 52-week high on Friday . The company traded as high as $17.66 and last traded at $17.64, with a volume of 7610 shares. The stock had previously closed at $17.46.

Separately, Zacks Investment Research downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, December 29th.

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $16.24 and a two-hundred day simple moving average of $15.33. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 12.04 and a beta of 0.74.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Tuesday, October 26th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $76.28 million for the quarter, compared to the consensus estimate of $73.43 million. Brookline Bancorp had a return on equity of 11.84% and a net margin of 33.84%. During the same period in the previous year, the business earned $0.24 earnings per share. As a group, equities analysts predict that Brookline Bancorp, Inc. will post 1.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Shareholders of record on Friday, November 12th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.83%. This is an increase from Brookline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date was Wednesday, November 10th. Brookline Bancorp’s payout ratio is presently 34.48%.

In other Brookline Bancorp news, Director John A. Hackett sold 3,000 shares of Brookline Bancorp stock in a transaction that occurred on Tuesday, November 23rd. The stock was sold at an average price of $16.75, for a total transaction of $50,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 6,822 shares of company stock worth $113,082 over the last ninety days. Company insiders own 2.59% of the company’s stock.

Several large investors have recently bought and sold shares of BRKL. FJ Capital Management LLC raised its stake in shares of Brookline Bancorp by 45.2% in the third quarter. FJ Capital Management LLC now owns 2,330,000 shares of the bank’s stock valued at $35,561,000 after acquiring an additional 725,000 shares during the last quarter. Victory Capital Management Inc. raised its position in Brookline Bancorp by 1,392.6% in the 3rd quarter. Victory Capital Management Inc. now owns 446,621 shares of the bank’s stock worth $6,815,000 after purchasing an additional 416,698 shares during the last quarter. Millennium Management LLC raised its position in Brookline Bancorp by 1,287.8% in the 2nd quarter. Millennium Management LLC now owns 156,943 shares of the bank’s stock worth $2,346,000 after purchasing an additional 145,634 shares during the last quarter. Morgan Stanley raised its position in Brookline Bancorp by 14.0% in the 2nd quarter. Morgan Stanley now owns 936,882 shares of the bank’s stock worth $14,007,000 after purchasing an additional 114,883 shares during the last quarter. Finally, State Street Corp raised its position in Brookline Bancorp by 3.2% in the 2nd quarter. State Street Corp now owns 3,338,185 shares of the bank’s stock worth $49,906,000 after purchasing an additional 104,748 shares during the last quarter. Institutional investors own 80.99% of the company’s stock.

Brookline Bancorp Company Profile (NASDAQ:BRKL)

Brookline Bancorp, Inc operates as a bank holding company. It operates through the following segments: Commercial Real Estate Loans, Commercial Loans and Leases, and Consumer Loans. The Commercial Real Estate Loans segment includes commercial real estate mortgage loans, multi-family mortgage loans, and construction loans.

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