Brookline Bancorp, Inc. (NASDAQ:BRKL) Receives $11.25 Average PT from Analysts

Brookline Bancorp, Inc. (NASDAQ:BRKL) has been assigned an average recommendation of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $11.25.

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC lifted its position in shares of Brookline Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock valued at $176,000 after buying an additional 1,223 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Brookline Bancorp by 4.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock worth $435,000 after acquiring an additional 2,097 shares in the last quarter. Nisa Investment Advisors LLC lifted 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 acquiring an additional 2,200 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Brookline Bancorp by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank’s stock valued at $742,000 after acquiring an additional 3,040 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Brookline Bancorp in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Down 0.2 %

Shares of NASDAQ BRKL opened at $9.50 on Friday. Brookline Bancorp has a twelve month low of $7.93 and a twelve month high of $11.52. The firm has a market cap of $844.46 million, a PE ratio of 10.22 and a beta of 0.79. The business has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $9.36. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 1.19.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. The firm had revenue of $161.75 million during the quarter, compared to the consensus estimate of $89.40 million. During the same period in the previous year, the company posted $0.26 earnings per share. Analysts expect that Brookline Bancorp will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.07%.

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.