Brookline Bancorp (NASDAQ:BRKL) Shares Gap Up - Should You Buy?

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $11.53, but opened at $11.78. Brookline Bancorp shares last traded at $11.81, with a volume of 214,315 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Brookline Bancorp from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $12.00 to $14.50 in a research report on Wednesday, December 4th. Raymond James upgraded shares of Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price objective for the company in a research note on Friday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookline Bancorp currently has an average rating of "Buy" and an average target price of $14.17.

Brookline Bancorp Price Performance

The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $1.06 billion, a PE ratio of 14.39 and a beta of 0.78. The company has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $10.32.

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

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.135 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.52%. Brookline Bancorp's payout ratio is currently 65.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Brookline Bancorp in the second quarter worth $102,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Brookline Bancorp by 4.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank's stock worth $435,000 after purchasing an additional 2,097 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Brookline Bancorp by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank's stock valued at $9,868,000 after purchasing an additional 56,291 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of Brookline Bancorp by 164.6% during the second quarter. Crestwood Advisors Group LLC now owns 32,149 shares of the bank's stock worth $268,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Princeton Capital Management LLC bought a new position in shares of Brookline Bancorp during the second quarter worth about $150,000. Institutional investors and hedge funds own 78.91% of the company's stock.

About Brookline Bancorp

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.