Brookline Bancorp (NASDAQ:BRKL) Shares Gap Up to $8.19

Brookline Bancorp, Inc. (NASDAQ:BRKL) shares gapped up prior to trading on Monday . The stock had previously closed at $8.19, but opened at $8.44. Brookline Bancorp shares last traded at $8.35, with a volume of 12,201 shares changing hands.

Analyst Ratings Changes

BRKL has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. Keefe, Bruyette & Woods dropped their price objective on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.08.

Brookline Bancorp Price Performance

The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50 day moving average price of $8.65 and a 200-day moving average price of $9.62. The stock has a market capitalization of $731.56 million, a price-to-earnings ratio of 8.85 and a beta of 0.81.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The firm had revenue of $87.87 million during the quarter, compared to analyst estimates of $91.77 million. Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. On average, analysts forecast that Brookline Bancorp, Inc. will post 0.72 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Thursday, May 9th. Brookline Bancorp’s dividend payout ratio is presently 58.07%.

Institutional Trading of Brookline Bancorp

A number of institutional investors have recently made changes to their positions in BRKL. Nisa Investment Advisors LLC boosted its stake in shares of Brookline Bancorp by 2,268.0% in the fourth 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 during the last quarter. GAMMA Investing LLC acquired a new position in Brookline Bancorp during the fourth quarter worth $34,000. EntryPoint Capital LLC acquired a new position in Brookline Bancorp during the first quarter worth $47,000. Sequoia Financial Advisors LLC acquired a new position in Brookline Bancorp during the fourth quarter worth $134,000. Finally, Aigen Investment Management LP acquired a new position in Brookline Bancorp during the third quarter worth $138,000. 78.91% of the stock is owned by institutional investors and hedge funds.

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.