Brookline Bancorp (BRKL) to Release Quarterly Earnings on Wednesday

Brookline Bancorp (NASDAQ:BRKL) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Brookline Bancorp had a return on equity of 7.87% and a net margin of 12.31%. The business had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. During the same quarter in the previous year, the company posted $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 Trading Up 3.5 %

NASDAQ BRKL opened at $9.38 on Monday. The business’s 50-day moving average price is $9.61 and its two-hundred day moving average price is $9.78. Brookline Bancorp has a 12 month low of $7.00 and a 12 month high of $11.52. The firm has a market capitalization of $840.92 million, a PE ratio of 10.91 and a beta of 0.75. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.135 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.76%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 62.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in shares of Brookline Bancorp by 5.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,915 shares of the bank’s stock valued at $292,000 after purchasing an additional 1,044 shares during the period. ProShare Advisors LLC raised its stake in Brookline Bancorp by 10.0% during the 2nd quarter. ProShare Advisors LLC now owns 13,655 shares of the bank’s stock worth $119,000 after buying an additional 1,242 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Brookline Bancorp by 1.2% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 117,621 shares of the bank’s stock worth $1,028,000 after buying an additional 1,346 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Brookline Bancorp by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,195 shares of the bank’s stock worth $823,000 after buying an additional 1,372 shares during the period. Finally, First Trust Advisors LP raised its stake in Brookline Bancorp by 4.2% during the 1st quarter. First Trust Advisors LP now owns 39,857 shares of the bank’s stock worth $631,000 after buying an additional 1,597 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.