Analysts Set Brookline Bancorp, Inc. (NASDAQ:BRKL) PT at $11.08

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) have earned a consensus recommendation of “Moderate Buy” from the four research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $11.08.

A number of research firms have recently weighed in on BRKL. Keefe, Bruyette & Woods dropped their price target on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a research report on Friday, April 26th. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th.

Brookline Bancorp Trading Down 2.4 %

Shares of NASDAQ:BRKL opened at $8.70 on Friday. 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 $773.34 million, a PE ratio of 9.35 and a beta of 0.79. The business has a 50 day moving average of $9.15 and a 200-day moving average of $9.78. 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 (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $91.77 million. As a group, equities research analysts forecast that Brookline Bancorp will post 0.72 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed 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 6.21%. Brookline Bancorp’s dividend payout ratio is currently 58.07%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Brookline Bancorp by 2,268.0% during the fourth 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 Brookline Bancorp during the fourth quarter valued at approximately $34,000. EntryPoint Capital LLC bought a new stake in shares of Brookline Bancorp during the first quarter worth $47,000. Advisor Partners II LLC bought a new stake in shares of Brookline Bancorp during the third quarter worth $104,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Brookline Bancorp during the third quarter worth $106,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.