Brookline Bancorp (NASDAQ:BRKL) Shares Gap Down to $9.54

Brookline Bancorp, Inc. (NASDAQ:BRKL) shares gapped down before the market opened on Thursday . The stock had previously closed at $9.54, but opened at $9.04. Brookline Bancorp shares last traded at $8.31, with a volume of 167,067 shares trading hands.

Analysts Set New Price Targets

BRKL has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 target price on shares of Brookline Bancorp in a research note on Wednesday, March 27th. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookline Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Brookline Bancorp Stock Down 11.7 %

The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $754.85 million, a PE ratio of 9.43 and a beta of 0.75. The business has a fifty day moving average of $9.58 and a 200-day moving average of $9.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $160.35 million during the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a return on equity of 7.87% and a net margin of 12.31%. During the same quarter in the previous year, the business earned $0.39 earnings per share. Equities research analysts anticipate that Brookline Bancorp, Inc. will post 0.97 earnings per share for the current year.

Institutional Trading of Brookline Bancorp

A number of hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in Brookline Bancorp by 12.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 50,002 shares of the bank’s stock worth $498,000 after buying an additional 5,598 shares during the period. Hennessy Advisors Inc. lifted its holdings in Brookline Bancorp by 14.5% during the first quarter. Hennessy Advisors Inc. now owns 315,000 shares of the bank’s stock worth $3,137,000 after buying an additional 40,000 shares during the period. Vanguard Group Inc. lifted its holdings in Brookline Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after buying an additional 32,790 shares during the period. Hsbc Holdings PLC purchased a new stake in Brookline Bancorp during the fourth quarter worth $1,881,000. Finally, Aigen Investment Management LP lifted its holdings in Brookline Bancorp by 106.6% during the fourth quarter. Aigen Investment Management LP now owns 31,198 shares of the bank’s stock worth $340,000 after buying an additional 16,094 shares during the period. Hedge funds and other 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.