Brookline Bancorp, Inc. (NASDAQ:BRKL) shares reached a new 52-week high and low during trading on Wednesday . The company traded as low as $18.90 and last traded at $18.82, with a volume of 2372 shares trading hands. The stock had previously closed at $18.85.
BRKL has been the topic of a number of analyst reports. ValuEngine raised Brookline Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. BidaskClub raised Brookline Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 21st. Finally, Zacks Investment Research raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, May 16th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.17.
The company has a market capitalization of $1.52 billion, a PE ratio of 23.81 and a beta of 0.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were paid a $0.10 dividend. The ex-dividend date was Thursday, May 10th. This represents a $0.40 annualized dividend and a yield of 2.10%. This is a boost from Brookline Bancorp’s previous quarterly dividend of $0.09. Brookline Bancorp’s dividend payout ratio is 50.00%.
In related news, General Counsel Michael W. Mccurdy sold 5,188 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $17.45, for a total value of $90,530.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.51% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in Brookline Bancorp by 0.6% in the first quarter. Principal Financial Group Inc. now owns 588,866 shares of the bank’s stock worth $9,540,000 after purchasing an additional 3,558 shares in the last quarter. WINTON GROUP Ltd bought a new position in Brookline Bancorp in the first quarter worth approximately $181,000. Xact Kapitalforvaltning AB grew its stake in Brookline Bancorp by 25.7% in the first quarter. Xact Kapitalforvaltning AB now owns 18,583 shares of the bank’s stock worth $301,000 after purchasing an additional 3,800 shares in the last quarter. Barclays PLC grew its stake in Brookline Bancorp by 156.5% in the first quarter. Barclays PLC now owns 30,703 shares of the bank’s stock worth $498,000 after purchasing an additional 18,731 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Brookline Bancorp by 118.2% in the first quarter. The Manufacturers Life Insurance Company now owns 674,005 shares of the bank’s stock worth $10,919,000 after purchasing an additional 365,118 shares in the last quarter. 74.88% of the stock is currently owned by institutional investors.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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