Brookline Bancorp, Inc. (NASDAQ:BRKL) Receives Average Rating of “Moderate Buy” from Brokerages

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

BRKL has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered their price target on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a report on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 target price on shares of Brookline Bancorp in a research report on Wednesday, March 27th.

Brookline Bancorp Stock Performance

BRKL stock opened at $9.29 on Monday. The firm has a market cap of $825.83 million, a price-to-earnings ratio of 9.99 and a beta of 0.79. Brookline Bancorp has a twelve month low of $7.93 and a twelve month high of $11.52. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $8.59 and its two-hundred day simple moving average is $9.41.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $87.87 million for 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%. Analysts predict that Brookline Bancorp will post 0.72 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.81%. The ex-dividend date was Thursday, May 9th. Brookline Bancorp’s payout ratio is 58.06%.

Institutional Trading of Brookline Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wakefield Asset Management LLLP purchased a new stake in shares of Brookline Bancorp during the 1st quarter worth $899,000. Jennison Associates LLC boosted its holdings in shares of Brookline Bancorp by 9.4% in the 1st quarter. Jennison Associates LLC now owns 4,917,763 shares of the bank’s stock valued at $48,981,000 after buying an additional 424,115 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Brookline Bancorp by 71.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 427,950 shares of the bank’s stock worth $4,669,000 after buying an additional 178,733 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $1,881,000. Finally, Dimensional Fund Advisors LP lifted its position in Brookline Bancorp by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,008,133 shares of the bank’s stock valued at $54,640,000 after acquiring an additional 37,879 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Company Profile

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.