Brookline Bancorp (NASDAQ:BRKL) Shares Gap Down to $9.54

Brookline Bancorp, Inc. (NASDAQ:BRKL) gapped down prior to trading on Thursday . The stock had previously closed at $9.54, but opened at $9.04. Brookline Bancorp shares last traded at $8.31, with a volume of 167,067 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price on shares of Brookline Bancorp in a research report on Wednesday, March 27th. StockNews.com raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.08.

Brookline Bancorp Stock Performance

The firm’s fifty day simple moving average is $9.51 and its 200 day simple moving average is $9.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $747.23 million, a PE ratio of 8.96 and a beta of 0.75.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.12%. The business had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. During the same period in the prior year, the company posted $0.39 EPS. On average, research analysts predict that Brookline Bancorp, Inc. will post 0.97 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp’s payout ratio is currently 58.07%.

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of Brookline Bancorp by 2,268.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after acquiring an additional 2,200 shares in the last quarter. GAMMA Investing LLC purchased a new position in Brookline Bancorp in the 4th quarter valued at about $34,000. Advisor Partners II LLC purchased a new position in Brookline Bancorp in the 3rd quarter valued at about $104,000. Fox Run Management L.L.C. purchased a new position in Brookline Bancorp in the 3rd quarter valued at about $106,000. Finally, Ieq Capital LLC purchased a new position in Brookline Bancorp in the 3rd quarter valued at about $110,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

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.