Brookline Bancorp, Inc. (NASDAQ:BRKL) Receives $11.38 Consensus Target Price from Brokerages

Brookline Bancorp, Inc. (NASDAQ:BRKL) has been given an average recommendation of “Moderate Buy” by the four research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $11.08.

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

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL opened at $8.34 on Wednesday. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52. The firm has a market cap of $747.23 million, a PE ratio of 8.96 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. The business has a fifty day moving average of $9.51 and a 200-day moving average of $9.78.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Brookline Bancorp had a return on equity of 7.12% and a net margin of 13.13%. The company had revenue of $160.35 million during the quarter, compared to analyst estimates of $89.38 million. During the same period last year, the company posted $0.39 earnings per share. On average, equities research analysts predict that Brookline Bancorp will post 0.97 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 6.48%. Brookline Bancorp’s payout ratio is currently 58.07%.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors have recently modified their holdings of BRKL. Jennison Associates LLC lifted its holdings in shares of Brookline Bancorp by 199.0% during the 3rd quarter. Jennison Associates LLC now owns 3,623,321 shares of the bank’s stock valued at $33,008,000 after purchasing an additional 2,411,481 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Brookline Bancorp by 1,699.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 249,217 shares of the bank’s stock valued at $2,270,000 after purchasing an additional 235,366 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Brookline Bancorp during the 4th quarter valued at about $1,881,000. American Century Companies Inc. lifted its holdings in shares of Brookline Bancorp by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 789,531 shares of the bank’s stock valued at $7,193,000 after purchasing an additional 92,291 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Brookline Bancorp by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock valued at $9,379,000 after acquiring an additional 63,039 shares in the last quarter. 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.