Brookline Bancorp (NASDAQ:BRKL) Reaches New 52-Week High - Here's What Happened

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.63 and last traded at $11.50, with a volume of 117170 shares. The stock had previously closed at $11.29.

Wall Street Analyst Weigh In

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

Brookline Bancorp Stock Up 1.8 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $10.21 and a two-hundred day moving average price of $9.45. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 12.35 and a beta of 0.78.

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. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The firm had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. During the same quarter in the previous year, the firm posted $0.26 EPS. As a group, sell-side analysts expect that Brookline Bancorp, Inc. will post 0.77 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, November 15th. This represents a $0.54 annualized dividend and a yield of 4.70%. Brookline Bancorp's dividend payout ratio is 58.06%.

Hedge Funds Weigh In On Brookline Bancorp

A number of institutional investors have recently modified their holdings of BRKL. EntryPoint Capital LLC bought a new position in Brookline Bancorp in the first quarter valued at about $47,000. CWM LLC grew its stake in shares of Brookline Bancorp by 1,806.5% during the second quarter. CWM LLC now owns 8,827 shares of the bank's stock worth $74,000 after buying an additional 8,364 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Brookline Bancorp during the second quarter worth $102,000. Creative Planning bought a new position in shares of Brookline Bancorp in the 3rd quarter valued at $103,000. Finally, XTX Topco Ltd acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at $115,000. 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.