Brookline Bancorp (NASDAQ:BRKL) Sets New 52-Week Low - Here's What Happened

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.26 and last traded at $10.44, with a volume of 426218 shares traded. The stock had previously closed at $10.53.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Brookline Bancorp in a research report on Saturday. They set a "hold" rating for the company.

Brookline Bancorp Stock Performance

The stock has a market cap of $956.81 million, a price-to-earnings ratio of 13.82 and a beta of 0.88. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The company has a 50 day simple moving average of $10.56 and a 200 day simple moving average of $11.51.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $91.49 million during the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, equities research analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 5.08%. Brookline Bancorp's dividend payout ratio is currently 65.85%.

Hedge Funds Weigh In On Brookline Bancorp

Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Brookline Bancorp by 805.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank's stock worth $33,000 after buying an additional 2,513 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock worth $34,000 after purchasing an additional 1,595 shares during the period. Pinney & Scofield Inc. bought a new stake in shares of Brookline Bancorp in the fourth quarter worth $35,000. C M Bidwell & Associates Ltd. acquired a new stake in Brookline Bancorp in the fourth quarter valued at $72,000. Finally, KBC Group NV raised its position in Brookline Bancorp by 60.3% during the 4th quarter. KBC Group NV now owns 6,438 shares of the bank's stock worth $76,000 after purchasing an additional 2,421 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors.

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.