Brookline Bancorp (NASDAQ:BRKL) Sets New 1-Year High - Should You Buy?

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $12.31 and last traded at $12.31, with a volume of 29324 shares. The stock had previously closed at $11.21.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price target on Brookline Bancorp from $10.50 to $11.00 and gave the company a "market perform" rating in a research note on Friday, July 26th.

Brookline Bancorp Price Performance

The stock's fifty day moving average is $10.30 and its 200-day moving average is $9.51. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.11. The stock has a market capitalization of $1.11 billion, a P/E ratio of 14.87 and a beta of 0.76.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The company had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same quarter last year, the company posted $0.26 earnings per share. On average, equities analysts anticipate that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.135 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.54 annualized dividend and a yield of 4.33%. Brookline Bancorp's dividend payout ratio (DPR) is presently 65.06%.

Hedge Funds Weigh In On Brookline Bancorp

Several large investors have recently made changes to their positions in BRKL. Assenagon Asset Management S.A. lifted its holdings in shares of Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank's stock worth $6,484,000 after buying an additional 258,267 shares during the last quarter. American Century Companies Inc. raised its stake in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank's stock valued at $11,951,000 after purchasing an additional 249,113 shares during the last quarter. AQR Capital Management LLC raised its stake in Brookline Bancorp by 47.5% during the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank's stock valued at $4,106,000 after purchasing an additional 158,329 shares during the last quarter. Inspire Advisors LLC bought a new stake in Brookline Bancorp in the 2nd quarter valued at $1,298,000. Finally, Bank of Montreal Can acquired a new stake in Brookline Bancorp in the 2nd quarter worth $1,042,000. Institutional investors and hedge funds 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.