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.

Wall Street Analyst Weigh In

BRKL has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods decreased their target price on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a research note on Friday. Finally, StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brookline Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.08.

Brookline Bancorp Stock Down 1.0 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $747.23 million, a P/E ratio of 8.96 and a beta of 0.75. The stock’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $9.78.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.12%. The firm had revenue of $160.35 million for the quarter, compared to the consensus estimate of $89.38 million. During the same period in the prior year, the firm posted $0.39 EPS. As a group, research analysts predict that Brookline Bancorp, Inc. will post 0.97 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 6.48%. Brookline Bancorp’s dividend payout ratio (DPR) is 58.07%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of Brookline Bancorp by 2,268.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after buying an additional 2,200 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Brookline Bancorp in the 4th quarter worth about $34,000. Advisor Partners II LLC bought a new position in shares of Brookline Bancorp in the 3rd quarter worth about $104,000. Fox Run Management L.L.C. bought a new position in shares of Brookline Bancorp in the 3rd quarter worth about $106,000. Finally, Ieq Capital LLC bought a new position in shares of Brookline Bancorp in the 3rd quarter worth about $110,000. 78.91% of the stock is currently owned by institutional investors.

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.