Brookline Bancorp, Inc. (NASDAQ:BRKL) Director Willard I. Hill, Jr. Acquires 2,000 Shares

Brookline Bancorp, Inc. (NASDAQ:BRKL) Director Willard I. Hill, Jr. acquired 2,000 shares of Brookline Bancorp stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $8.44 per share, with a total value of $16,880.00. Following the completion of the purchase, the director now owns 25,631 shares in the company, valued at approximately $216,325.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brookline Bancorp Stock Performance

Shares of BRKL stock traded down $0.05 during mid-day trading on Tuesday, hitting $8.30. The stock had a trading volume of 501,234 shares, compared to its average volume of 448,781. The firm has a market cap of $744.10 million, a PE ratio of 8.98 and a beta of 0.75. The company’s 50-day simple moving average is $9.48 and its 200-day simple moving average is $9.78. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $11.52.

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.54 annualized dividend and a yield of 6.51%. Brookline Bancorp’s payout ratio is currently 58.07%.

Analysts Set New Price Targets

BRKL has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods decreased their target price on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research note on Friday. Finally, StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Brookline Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $11.08.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds have recently added to or reduced their stakes in BRKL. Nisa Investment Advisors LLC lifted its holdings in Brookline Bancorp by 2,268.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Brookline Bancorp during the fourth quarter worth $34,000. Advisor Partners II LLC purchased a new position in Brookline Bancorp in the 3rd quarter valued at about $104,000. Fox Run Management L.L.C. purchased a new position in Brookline Bancorp in the third quarter valued at about $106,000. Finally, Ieq Capital LLC purchased a new position in shares of Brookline Bancorp during the 3rd quarter valued at approximately $110,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

About Brookline Bancorp

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.