Brookline Bancorp (NASDAQ:BRKL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) announced its earnings results on Wednesday. The bank reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01, Zacks reports. The company had revenue of $161.75 million during the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. During the same quarter in the prior year, the company earned $0.26 earnings per share.

Brookline Bancorp Stock Up 1.4 %

Shares of NASDAQ BRKL traded up $0.14 during trading on Thursday, reaching $10.42. The company had a trading volume of 539,055 shares, compared to its average volume of 473,841. Brookline Bancorp has a 12-month low of $7.93 and a 12-month high of $11.52. The stock has a market cap of $926.23 million, a PE ratio of 11.20 and a beta of 0.79. The business’s 50-day moving average is $8.82 and its 200 day moving average is $9.39. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14.

Analysts Set New Price Targets

BRKL has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. Keefe, Bruyette & Woods decreased their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Brookline Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $11.08.

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.