Brookline Bancorp (NASDAQ:BRKL) Sets New 12-Month High – Should You Buy?

Brookline Bancorp, Inc. (NASDAQ:BRKL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.31 and last traded at $12.31, with a volume of 29324 shares trading hands. The stock had previously closed at $11.21.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th.

Brookline Bancorp Stock Up 10.1 %

The company has a current ratio of 1.13, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.10 billion, a P/E ratio of 13.51 and a beta of 0.76. The stock’s 50-day simple moving average is $10.30 and its 200-day simple moving average is $9.51.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period last year, the company posted $0.26 earnings per share. As a group, research analysts predict that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s payout ratio is currently 65.06%.

Hedge Funds Weigh In On Brookline Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its holdings in Brookline Bancorp by 67.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after purchasing an additional 258,267 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Brookline Bancorp by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after acquiring an additional 249,113 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Brookline Bancorp by 47.5% in the second quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after acquiring an additional 158,329 shares in the last quarter. Inspire Advisors LLC purchased a new stake in shares of Brookline Bancorp in the second quarter worth $1,298,000. Finally, Bank of Montreal Can purchased a new position in Brookline Bancorp in the second quarter worth about $1,042,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Company Profile

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.