Brokerages Set Brookline Bancorp, Inc. (NASDAQ:BRKL) Price Target at $11.08

Brookline Bancorp, Inc. (NASDAQ:BRKL) has been assigned a consensus rating of “Moderate Buy” from the four ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.08.

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 target price on shares of Brookline Bancorp in a report on Wednesday, March 27th.

Brookline Bancorp Stock Performance

NASDAQ:BRKL opened at $8.72 on Friday. The firm has a market capitalization of $775.12 million, a PE ratio of 9.38 and a beta of 0.79. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. Brookline Bancorp has a 12-month low of $7.93 and a 12-month high of $11.52. The firm has a 50-day moving average price of $9.14 and a 200 day moving average price of $9.78.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $87.87 million during the quarter, compared to the consensus estimate of $91.77 million. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.09%. Research analysts anticipate that Brookline Bancorp will post 0.72 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Thursday, May 9th. Brookline Bancorp’s dividend payout ratio is currently 58.07%.

Institutional Trading of Brookline Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in Brookline Bancorp by 2,268.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after buying 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 approximately $34,000. EntryPoint Capital LLC bought a new position in Brookline Bancorp in the 1st quarter valued at $47,000. Advisor Partners II LLC bought a new position in Brookline Bancorp in the third quarter valued at about $104,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Brookline Bancorp during the 3rd quarter worth approximately $106,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.