Brookline Bancorp, Inc. (NASDAQ:BRKL) Given Average Rating of “Moderate Buy” by Brokerages

Brookline Bancorp, Inc. (NASDAQ:BRKL) has been given an average recommendation of “Moderate Buy” by the four brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.25.

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

Brookline Bancorp Stock Performance

NASDAQ:BRKL opened at $9.61 on Friday. The business’s 50-day moving average price is $9.07 and its two-hundred day moving average price is $9.37. Brookline Bancorp has a twelve month low of $7.93 and a twelve month high of $11.52. The stock has a market cap of $854.28 million, a P/E ratio of 10.33 and a beta of 0.79. 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 announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $161.75 million for the quarter, compared to analyst estimates of $89.40 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same period in the prior year, the company earned $0.26 EPS. As a group, equities analysts predict that Brookline Bancorp will post 0.77 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, August 16th. This represents a $0.54 annualized dividend and a yield of 5.62%. Brookline Bancorp’s payout ratio is 58.06%.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of BRKL. Nisa Investment Advisors LLC grew its position 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 worth $25,000 after acquiring an additional 2,200 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Brookline Bancorp in the 4th quarter worth approximately $34,000. EntryPoint Capital LLC bought a new stake in shares of Brookline Bancorp in the 1st quarter worth approximately $47,000. CWM LLC lifted its stake in shares of Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after purchasing an additional 8,364 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Brookline Bancorp in the 2nd quarter valued at approximately $102,000. 78.91% of the stock is currently owned by institutional investors.

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.