Brookline Bancorp (NASDAQ:BRKL) Issues Quarterly Earnings Results

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) issued its quarterly earnings results on Wednesday. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.25, Zacks reports. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. The company had revenue of $94.66 million during the quarter, compared to the consensus estimate of $94.90 million.

Brookline Bancorp Trading Up 0.4%

Shares of NASDAQ:BRKL traded up $0.04 on Friday, hitting $10.82. 479,708 shares of the company's stock were exchanged, compared to its average volume of 592,493. Brookline Bancorp has a 12 month low of $9.24 and a 12 month high of $13.15. The stock has a market capitalization of $964.17 million, a price-to-earnings ratio of 12.16 and a beta of 0.88. The business's 50 day simple moving average is $10.66 and its two-hundred day simple moving average is $10.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.10 and a quick ratio of 1.09.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 4.99%. Brookline Bancorp's dividend payout ratio (DPR) is 60.67%.

Institutional Trading of Brookline Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Brookline Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,433 shares of the bank's stock valued at $572,000 after buying an additional 2,294 shares during the period. Empowered Funds LLC increased its stake in shares of Brookline Bancorp by 1.9% during the first quarter. Empowered Funds LLC now owns 259,902 shares of the bank's stock valued at $2,833,000 after buying an additional 4,772 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Brookline Bancorp by 17.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,573 shares of the bank's stock valued at $1,903,000 after buying an additional 26,218 shares during the period. Jane Street Group LLC purchased a new position in shares of Brookline Bancorp during the first quarter valued at $2,114,000. Finally, Focus Partners Wealth increased its stake in shares of Brookline Bancorp by 9.9% during the first quarter. Focus Partners Wealth now owns 11,243 shares of the bank's stock valued at $123,000 after buying an additional 1,010 shares during the period. 78.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Brookline Bancorp in a research report on Monday, May 19th. They set a "hold" rating for the company.

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.