Brookline Bancorp, Inc. (NASDAQ:BRKL) Director Charles H. Peck sold 44,000 shares of the stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $14.00, for a total transaction of $616,000.00.
Shares of NASDAQ:BRKL traded up $0.09 during mid-day trading on Tuesday, reaching $14.18. 12,289 shares of the company's stock were exchanged, compared to its average volume of 401,105. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.08 and a current ratio of 1.08. Brookline Bancorp, Inc. has a twelve month low of $8.13 and a twelve month high of $15.15. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.62 and a beta of 0.76. The business's fifty day moving average price is $13.05 and its 200-day moving average price is $11.02.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Tuesday, January 26th. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.11. Brookline Bancorp had a return on equity of 4.50% and a net margin of 11.92%. Analysts predict that Brookline Bancorp, Inc. will post 0.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Friday, February 12th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, February 11th. Brookline Bancorp's payout ratio is presently 41.82%.
A number of brokerages have recently commented on BRKL. Raymond James increased their price target on Brookline Bancorp from $11.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, January 29th. Zacks Investment Research raised Brookline Bancorp from a "sell" rating to a "hold" rating in a report on Monday, February 1st. Finally, TheStreet raised Brookline Bancorp from a "c" rating to a "b" rating in a research note on Thursday, January 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Brookline Bancorp currently has a consensus rating of "Buy" and an average target price of $11.67.
A number of institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its stake in shares of Brookline Bancorp by 72.2% in the 4th quarter. Jennison Associates LLC now owns 1,299,065 shares of the bank's stock valued at $15,641,000 after purchasing an additional 544,815 shares during the last quarter. Victory Capital Management Inc. boosted its position in Brookline Bancorp by 97.9% during the third quarter. Victory Capital Management Inc. now owns 22,581 shares of the bank's stock valued at $195,000 after acquiring an additional 11,170 shares during the last quarter. BlackRock Inc. boosted its position in Brookline Bancorp by 2.0% during the third quarter. BlackRock Inc. now owns 11,551,404 shares of the bank's stock valued at $99,862,000 after acquiring an additional 224,955 shares during the last quarter. Baldwin Brothers Inc. MA grew its holdings in Brookline Bancorp by 26.2% during the 4th quarter. Baldwin Brothers Inc. MA now owns 14,441 shares of the bank's stock worth $173,000 after acquiring an additional 3,000 shares during the period. Finally, US Bancorp DE raised its position in shares of Brookline Bancorp by 298.2% in the 3rd quarter. US Bancorp DE now owns 75,861 shares of the bank's stock worth $656,000 after acquiring an additional 56,809 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.
About Brookline Bancorp
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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