Brookline Bancorp (NASDAQ:BRKL – Get Rating) posted its quarterly earnings results on Wednesday. The bank reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01, MarketWatch Earnings reports. Brookline Bancorp had a return on equity of 11.58% and a net margin of 33.85%. During the same period in the previous year, the company earned $0.34 earnings per share.
BRKL stock traded down $0.16 during trading on Friday, reaching $14.46. The stock had a trading volume of 458,483 shares, compared to its average volume of 273,219. Brookline Bancorp has a 52 week low of $13.23 and a 52 week high of $17.74. The stock’s 50 day moving average is $15.87 and its two-hundred day moving average is $16.24. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.13 billion, a PE ratio of 9.90 and a beta of 0.66.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be issued a $0.13 dividend. This is an increase from Brookline Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, May 12th. This represents a $0.52 dividend on an annualized basis and a yield of 3.60%. Brookline Bancorp’s dividend payout ratio is currently 34.25%.
A number of hedge funds have recently bought and sold shares of the business. Colony Group LLC bought a new position in shares of Brookline Bancorp in the fourth quarter worth about $192,000. Cubist Systematic Strategies LLC raised its stake in shares of Brookline Bancorp by 101.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 21,502 shares of the bank’s stock worth $348,000 after buying an additional 10,813 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Brookline Bancorp by 224.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 36,817 shares of the bank’s stock worth $596,000 after buying an additional 25,464 shares during the period. Deutsche Bank AG raised its stake in shares of Brookline Bancorp by 5.4% in the fourth quarter. Deutsche Bank AG now owns 51,389 shares of the bank’s stock worth $832,000 after buying an additional 2,614 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in shares of Brookline Bancorp by 3.6% in the fourth quarter. Glenmede Trust Co. NA now owns 55,966 shares of the bank’s stock worth $906,000 after buying an additional 1,968 shares during the period. 80.60% of the stock is currently owned by institutional investors.
BRKL has been the subject of several recent analyst reports. Zacks Investment Research cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. StockNews.com initiated coverage on Brookline Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company.
About Brookline Bancorp (Get Rating)
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.
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