Brookline Bancorp (BRKL) Reaches New 12-Month Low at $14.22

Brookline Bancorp, Inc. (NASDAQ:BRKL) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.22 and last traded at $14.39, with a volume of 19785 shares. The stock had previously closed at $14.50.

BRKL has been the subject of several recent research reports. BidaskClub raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Zacks Investment Research raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Brookline Bancorp presently has an average rating of “Hold” and an average price target of $18.67.

The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $1.17 billion, a PE ratio of 18.18 and a beta of 0.89.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, October 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $69.40 million during the quarter, compared to analyst estimates of $68.80 million. Brookline Bancorp had a net margin of 21.27% and a return on equity of 9.13%. As a group, equities research analysts anticipate that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were issued a dividend of $0.105 per share. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.42 annualized dividend and a dividend yield of 2.89%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 52.50%.

Brookline Bancorp announced that its board has authorized a stock buyback program on Thursday, December 6th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the bank to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, General Counsel Michael W. Mccurdy sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $17.90, for a total transaction of $53,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.51% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Brookline Bancorp by 3.4% during the third quarter. Vanguard Group Inc. now owns 7,952,147 shares of the bank’s stock worth $132,801,000 after buying an additional 260,206 shares in the last quarter. Morgan Stanley increased its holdings in shares of Brookline Bancorp by 9.4% during the third quarter. Morgan Stanley now owns 1,015,458 shares of the bank’s stock worth $16,958,000 after buying an additional 87,355 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Brookline Bancorp by 7.1% during the third quarter. Legal & General Group Plc now owns 189,945 shares of the bank’s stock worth $3,179,000 after buying an additional 12,665 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Brookline Bancorp by 5.5% during the third quarter. Teachers Advisors LLC now owns 156,249 shares of the bank’s stock worth $2,609,000 after buying an additional 8,090 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Brookline Bancorp by 6.3% during the third quarter. AQR Capital Management LLC now owns 89,928 shares of the bank’s stock worth $1,502,000 after buying an additional 5,345 shares in the last quarter. 78.13% of the stock is owned by institutional investors.

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About Brookline Bancorp (NASDAQ:BRKL)

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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