$0.20 EPS Expected for Brookline Bancorp, Inc. (BRKL) This Quarter
Analysts expect Brookline Bancorp, Inc. (NASDAQ:BRKL) to announce earnings per share (EPS) of $0.20 for the current quarter, Zacks reports. Zero analysts have issued estimates for Brookline Bancorp’s earnings. Brookline Bancorp reported earnings of $0.19 per share during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 18th.
On average, analysts expect that Brookline Bancorp will report full-year earnings of $0.80 per share for the current financial year. For the next fiscal year, analysts anticipate that the business will post earnings of $0.90 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Brookline Bancorp.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Brookline Bancorp had a return on equity of 7.56% and a net margin of 19.64%. The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $58.08 million. During the same period in the previous year, the company posted $0.18 earnings per share. The business’s revenue was down 12.9% on a year-over-year basis.
Several equities research analysts have recently issued reports on BRKL shares. BidaskClub upgraded Brookline Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $15.00 target price on shares of Brookline Bancorp in a research report on Friday, July 14th. Finally, Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $17.00 to $16.50 in a research report on Thursday, April 27th.
Brookline Bancorp (BRKL) opened at 14.95 on Wednesday. The stock has a market cap of $1.14 billion, a P/E ratio of 19.42 and a beta of 0.97. Brookline Bancorp has a 12 month low of $11.07 and a 12 month high of $17.45. The company’s 50-day moving average price is $14.52 and its 200-day moving average price is $15.04.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, August 9th. Brookline Bancorp’s dividend payout ratio is currently 46.75%.
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In other news, General Counsel Michael W. Mccurdy sold 4,895 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $14.20, for a total transaction of $69,509.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John M. Pereira purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $145,000.00. The disclosure for this purchase can be found here. Insiders own 2.85% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BRKL. Russell Investments Group Ltd. raised its position in shares of Brookline Bancorp by 4.2% in the second quarter. Russell Investments Group Ltd. now owns 1,360,758 shares of the bank’s stock valued at $19,859,000 after buying an additional 54,627 shares in the last quarter. Aperio Group LLC raised its position in shares of Brookline Bancorp by 33.7% in the second quarter. Aperio Group LLC now owns 28,585 shares of the bank’s stock valued at $417,000 after buying an additional 7,198 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Brookline Bancorp by 8.7% in the second quarter. Louisiana State Employees Retirement System now owns 31,200 shares of the bank’s stock valued at $456,000 after buying an additional 2,500 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Brookline Bancorp by 5.4% in the second quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock valued at $209,000 after buying an additional 738 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Brookline Bancorp by 93.1% in the second quarter. State of Alaska Department of Revenue now owns 15,045 shares of the bank’s stock valued at $219,000 after buying an additional 7,255 shares in the last quarter. Institutional investors and hedge funds own 71.67% of the company’s stock.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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