Brookline Bancorp Inc. (NASDAQ:BRKL) released its quarterly earnings results on Wednesday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Brookline Bancorp had a return on equity of 7.59% and a net margin of 20.27%.
Shares of Brookline Bancorp (NASDAQ:BRKL) traded up 0.81% during trading on Wednesday, hitting $12.40. The company’s stock had a trading volume of 134,141 shares. Brookline Bancorp has a one year low of $9.91 and a one year high of $12.50. The stock has a market cap of $874.40 million, a PE ratio of 16.99 and a beta of 0.87. The company has a 50-day moving average price of $12.04 and a 200-day moving average price of $11.47.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.90%. Brookline Bancorp’s payout ratio is currently 49.32%.
A number of equities analysts recently weighed in on BRKL shares. Compass Point upped their price target on Brookline Bancorp from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a report on Friday, July 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $12.63.
In related news, General Counsel Michael W. Mccurdy sold 9,200 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $11.80, for a total value of $108,560.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.82% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Brookline Bancorp by 4.2% in the second quarter. Vanguard Group Inc. now owns 5,778,672 shares of the company’s stock valued at $63,739,000 after buying an additional 234,809 shares during the period. BlackRock Fund Advisors boosted its position in shares of Brookline Bancorp by 2.8% in the second quarter. BlackRock Fund Advisors now owns 4,456,754 shares of the company’s stock valued at $49,158,000 after buying an additional 121,740 shares during the period. Zacks Investment Management bought a new position in shares of Brookline Bancorp during the second quarter valued at about $824,000. Massachusetts Financial Services Co. MA boosted its position in shares of Brookline Bancorp by 7.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 665,406 shares of the company’s stock valued at $7,339,000 after buying an additional 44,204 shares during the period. Finally, State Street Corp boosted its position in shares of Brookline Bancorp by 1.6% in the second quarter. State Street Corp now owns 1,856,196 shares of the company’s stock valued at $20,475,000 after buying an additional 29,348 shares during the period. Hedge funds and other institutional investors own 74.66% of the company’s stock.
About Brookline Bancorp
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England.
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