Brookline Bancorp (BRKL) Scheduled to Post Earnings on Wednesday

Brookline Bancorp (NASDAQ:BRKL) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Brookline Bancorp to post earnings of $0.22 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. The company had revenue of $160.35 million during the quarter, compared to analysts’ expectations of $89.38 million. During the same quarter last year, the business earned $0.39 EPS. On average, analysts expect Brookline Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Brookline Bancorp Stock Down 1.4 %

Shares of NASDAQ BRKL opened at $9.01 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. Brookline Bancorp has a 52 week low of $7.00 and a 52 week high of $11.52. The firm has a 50-day moving average price of $9.65 and a 200 day moving average price of $9.78. The stock has a market capitalization of $807.75 million, a price-to-earnings ratio of 10.48 and a beta of 0.75.

Brookline Bancorp Dividend Announcement

The firm 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. The ex-dividend date was Thursday, February 8th. This represents a $0.54 annualized dividend and a yield of 5.99%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 62.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BRKL. Piper Sandler reiterated an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a report on Wednesday, March 27th. TheStreet upgraded shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.38.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of Brookline Bancorp by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 71,373 shares of the bank’s stock worth $779,000 after acquiring an additional 2,375 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Brookline Bancorp during the fourth quarter worth about $705,000. Barclays PLC grew its position in shares of Brookline Bancorp by 29.3% during the fourth quarter. Barclays PLC now owns 215,751 shares of the bank’s stock worth $2,353,000 after acquiring an additional 48,944 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Brookline Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after acquiring an additional 32,790 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Brookline Bancorp by 3.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,424,178 shares of the bank’s stock worth $15,538,000 after acquiring an additional 53,429 shares during 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.