Brookline Bancorp (NASDAQ:BRKL) Shares Gap Down to $11.26

Posted by Defense World Staff on Mar 19th, 2023

Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Rating)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $11.26, but opened at $10.88. Brookline Bancorp shares last traded at $10.80, with a volume of 178,731 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Raymond James assumed coverage on shares of Brookline Bancorp in a research report on Tuesday, December 20th. They issued a “market perform” rating on the stock. StockNews.com cut shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday.

Brookline Bancorp Price Performance

The business’s 50-day simple moving average is $12.98 and its 200-day simple moving average is $13.12. The stock has a market cap of $946.11 million, a PE ratio of 7.46 and a beta of 0.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.44.

Brookline Bancorp (NASDAQ:BRKL – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Brookline Bancorp had a net margin of 29.38% and a return on equity of 11.42%. The firm had revenue of $112.46 million during the quarter, compared to analysts’ expectations of $87.79 million. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, research analysts expect that Brookline Bancorp, Inc. will post 1.46 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, February 9th. Brookline Bancorp’s dividend payout ratio is currently 37.76%.

Insider Activity at Brookline Bancorp

In related news, Director Bogdan Nowak purchased 5,000 shares of Brookline Bancorp stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $12.60 per share, for a total transaction of $63,000.00. Following the completion of the transaction, the director now directly owns 158,662 shares of the company’s stock, valued at $1,999,141.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David C. Chapin sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $13.08, for a total transaction of $196,200.00. Following the transaction, the director now owns 97,042 shares in the company, valued at $1,269,309.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bogdan Nowak acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were acquired at an average cost of $12.60 per share, for a total transaction of $63,000.00. Following the purchase, the director now directly owns 158,662 shares of the company’s stock, valued at $1,999,141.20. The disclosure for this purchase can be found here. Insiders have purchased 40,500 shares of company stock worth $458,360 over the last 90 days. 2.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in Brookline Bancorp during the first quarter worth about $45,000. US Asset Management LLC bought a new stake in Brookline Bancorp during the fourth quarter worth about $49,000. Point72 Hong Kong Ltd bought a new stake in Brookline Bancorp during the third quarter worth about $62,000. Denali Advisors LLC bought a new stake in Brookline Bancorp during the fourth quarter worth about $78,000. Finally, Howland Capital Management LLC bought a new stake in Brookline Bancorp during the third quarter worth about $118,000. Institutional investors own 82.28% of the company’s stock.

Brookline Bancorp Company Profile

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Brookline Bancorp, Inc is a multi-bank holding company that engages in the provision of financial solutions through its subsidiaries. The firm offers a range of commercial, business, and retail banking services, including cash management products, on-line banking services, consumer and residential loans, and investment services for small to mid-sized businesses and retail customers.