Brookline Bancorp (NASDAQ:BRKL) Posts Earnings Results, Beats Expectations By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) issued its earnings results on Wednesday, April 24th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, Morningstar.com reports. The business had revenue of $69.63 million for the quarter, compared to the consensus estimate of $69.40 million. Brookline Bancorp had a return on equity of 9.78% and a net margin of 24.61%.

Shares of Brookline Bancorp stock traded down $0.08 during trading on Friday, reaching $15.14. 126,408 shares of the stock traded hands, compared to its average volume of 273,807. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 14.15 and a beta of 0.91. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.99. Brookline Bancorp has a 52-week low of $12.84 and a 52-week high of $19.35.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.11 per share. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, May 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.91%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 41.12%.

A number of brokerages recently commented on BRKL. BidaskClub raised Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Zacks Investment Research raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Friday, May 3rd. ValuEngine raised Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Piper Jaffray Companies raised Brookline Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $15.50 to $17.00 in a report on Thursday, May 2nd. Finally, Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a report on Wednesday, February 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Brookline Bancorp currently has a consensus rating of “Hold” and an average price target of $17.38.

Institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in shares of Brookline Bancorp by 31.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,874 shares of the bank’s stock valued at $40,000 after purchasing an additional 688 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Brookline Bancorp in the fourth quarter worth about $51,000. Clean Yield Group purchased a new position in Brookline Bancorp in the fourth quarter worth about $51,000. Acadian Asset Management LLC purchased a new position in Brookline Bancorp in the fourth quarter worth about $58,000. Finally, Nisa Investment Advisors LLC grew its position in Brookline Bancorp by 909.1% in the first quarter. Nisa Investment Advisors LLC now owns 5,550 shares of the bank’s stock worth $80,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.

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Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts, as well as commercial, municipal, and retail deposits.

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Earnings History for Brookline Bancorp (NASDAQ:BRKL)

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