Brookline Bancorp, Inc. (NASDAQ:BRKL) announced its quarterly earnings data on Wednesday. The bank reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Brookline Bancorp had a return on equity of 7.53% and a net margin of 19.97%. The business had revenue of $69 million for the quarter, compared to the consensus estimate of $56.36 million. During the same period in the previous year, the business earned $0.18 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis.
Brookline Bancorp (NASDAQ:BRKL) traded down 0.35% during midday trading on Friday, hitting $14.15. The company had a trading volume of 1,185,629 shares. The company has a 50 day moving average price of $15.02 and a 200 day moving average price of $15.22. Brookline Bancorp has a 1-year low of $10.40 and a 1-year high of $17.45.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be given a $0.09 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.54%. Brookline Bancorp’s dividend payout ratio is currently 48.65%.
In other news, Director John M. Pereira acquired 10,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $145,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group, Ltd. acquired a new position in Brookline Bancorp during the fourth quarter worth $26,849,000. Whalerock Point Partners, LLC acquired a new position in Brookline Bancorp during the third quarter worth $4,761,000. Moors & Cabot Inc. raised its position in Brookline Bancorp by 0.8% in the third quarter. Moors & Cabot Inc. now owns 78,872 shares of the bank’s stock worth $956,000 after buying an additional 625 shares during the period. Hartford Investment Management Co. raised its position in Brookline Bancorp by 5.7% in the third quarter. Hartford Investment Management Co. now owns 14,800 shares of the bank’s stock worth $180,000 after buying an additional 800 shares during the period. Finally, Catalyst Capital Advisors, LLC acquired a new position in Brookline Bancorp during the third quarter worth $171,000. 77.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on BRKL shares. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $17.00 to $16.50 in a research report on Thursday, April 27th. Compass Point upgraded Brookline Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, January 26th.
About Brookline Bancorp, Inc.
Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England. The Company’s activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in Massachusetts and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services.