Home News Business Brookline Bancorp, Inc. (BRKL) Reaches New 12-Month Low At $12.91

Brookline Bancorp, Inc. (BRKL) Reaches New 12-Month Low At $12.91

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Brookline Bancorp, Inc. (NASDAQ:BRKL) shares hit a new 52-week low on Monday. The stock traded as low as $12.91 and last traded at $12.92, with a volume of 22231 shares changing hands. The stock had previously closed at $13.07.

Several research analysts recently weighed in on BRKL shares. BidaskClub cut Brookline Bancorp, Inc. from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Sandler O’Neill upgraded Brookline Bancorp, Inc. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Thursday, December 20th. Finally, Zacks Investment Research upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.00.

The stock has a market cap of $1.05 billion, a P/E ratio of 16.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17.

Brookline Bancorp, Inc. (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $69.40 million during the quarter, compared to analysts’ expectations of $68.80 million. Brookline Bancorp, Inc. had a return on equity of 9.13% and a net margin of 21.27%. Analysts forecast that Brookline Bancorp, Inc. will post 1.05 EPS for the current fiscal year.

Brookline Bancorp, Inc. announced that its board has approved a share buyback plan on Thursday, December 6th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the bank to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of the company. BlackRock, Inc. increased its position in shares of Brookline Bancorp, Inc. by 4.9% in the third quarter. BlackRock, Inc. now owns 11,699,175 shares of the bank’s stock valued at $195,375,000 after buying an additional 549,170 shares in the last quarter. Vanguard Group, Inc. increased its position in shares of Brookline Bancorp, Inc. by 3.4% in the third quarter. Vanguard Group, Inc. now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after buying an additional 260,206 shares in the last quarter. Vanguard Group, Inc. increased its position in shares of Brookline Bancorp, Inc. by 3.4% in the third quarter. Vanguard Group, Inc. now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after buying an additional 260,206 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Brookline Bancorp by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,392,718 shares of the bank’s stock valued at $106,759,000 after buying an additional 37,144 shares in the last quarter. Finally, Renaissance Technologies, LLC increased its position in shares of Brookline Bancorp, Inc. by 7.6% in the third quarter. Renaissance Technologies, LLC now owns 1,653,300 shares of the bank’s stock valued at $27,610,000 after buying an additional 116,300 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Brookline Bancorp, Inc. Company Profile

Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.