Analysts Set Brookline Bancorp, Inc. (NASDAQ:BRKL) Price Target at $11.38

Brookline Bancorp, Inc. (NASDAQ:BRKL) has received an average rating of “Moderate Buy” from the four analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $11.08.

Several analysts have issued reports on BRKL shares. Piper Sandler restated an “overweight” rating and issued a $12.00 target price on shares of Brookline Bancorp in a report on Wednesday, March 27th. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reduced their price target on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research report on Friday.

Hedge Funds Weigh In On Brookline Bancorp

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Brookline Bancorp during the third quarter worth approximately $131,000. Hennessy Advisors Inc. increased its stake in Brookline Bancorp by 21.1% during the third quarter. Hennessy Advisors Inc. now owns 230,000 shares of the bank’s stock worth $2,095,000 after acquiring an additional 40,000 shares during the last quarter. WASHINGTON TRUST Co lifted its stake in shares of Brookline Bancorp by 13.5% in the 3rd quarter. WASHINGTON TRUST Co now owns 49,304 shares of the bank’s stock valued at $449,000 after purchasing an additional 5,859 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Brookline Bancorp by 46.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,915 shares of the bank’s stock worth $136,000 after purchasing an additional 4,728 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brookline Bancorp by 70.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,472 shares of the bank’s stock worth $150,000 after purchasing an additional 6,825 shares in the last quarter. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Trading Down 1.0 %

Shares of BRKL stock opened at $8.34 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $747.23 million, a price-to-earnings ratio of 8.96 and a beta of 0.75. The stock has a 50 day simple moving average of $9.51 and a 200-day simple moving average of $9.78. Brookline Bancorp has a 1-year low of $7.00 and a 1-year high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a return on equity of 7.12% and a net margin of 13.13%. The business had revenue of $160.35 million during the quarter, compared to the consensus estimate of $89.38 million. During the same period in the prior year, the company posted $0.39 EPS. On average, equities research analysts expect that Brookline Bancorp will post 0.97 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Thursday, May 9th. Brookline Bancorp’s payout ratio is 58.07%.

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.