Brookline Bancorp’s (BRKL) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $12.00 price target on the bank’s stock.

A number of other equities research analysts have also recently issued reports on BRKL. StockNews.com upgraded Brookline Bancorp from a sell rating to a hold rating in a research note on Thursday, January 25th. TheStreet upgraded Brookline Bancorp from a c+ rating to a b- rating in a research note on Tuesday, December 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $11.92.

Brookline Bancorp Trading Up 3.3 %

NASDAQ BRKL opened at $9.75 on Wednesday. The stock has a market capitalization of $866.68 million, a price-to-earnings ratio of 11.34 and a beta of 0.75. Brookline Bancorp has a one year low of $7.00 and a one year high of $11.52. 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 business’s fifty day moving average is $10.02 and its 200-day moving average is $9.73.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data 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. Brookline Bancorp had a return on equity of 7.87% and a net margin of 12.31%. The business had revenue of $160.35 million for the quarter, compared to analysts’ expectations of $89.38 million. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts predict that Brookline Bancorp will post 0.97 EPS for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Thursday, February 8th. Brookline Bancorp’s payout ratio is presently 62.79%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in Brookline Bancorp by 2,268.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after buying an additional 2,200 shares in the last quarter. Quarry LP grew its holdings in shares of Brookline Bancorp by 337.3% during the first quarter. Quarry LP now owns 2,589 shares of the bank’s stock worth $27,000 after purchasing an additional 1,997 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Brookline Bancorp during the fourth quarter worth about $32,000. GAMMA Investing LLC purchased a new position in shares of Brookline Bancorp during the fourth quarter worth about $34,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Brookline Bancorp by 155.6% during the third quarter. Tower Research Capital LLC TRC now owns 4,473 shares of the bank’s stock worth $41,000 after purchasing an additional 2,723 shares in the last quarter. 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.