Analysts Set Brookline Bancorp, Inc. (NASDAQ:BRKL) Target Price at $11.08

Brookline Bancorp, Inc. (NASDAQ:BRKLGet Free Report) has been assigned an average rating of “Moderate Buy” from the four analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.08.

BRKL has been the topic of a number of recent research reports. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods lowered their target price on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $12.00 target price on shares of Brookline Bancorp in a report on Wednesday, March 27th.

Read Our Latest Research Report on Brookline Bancorp

Institutional Trading of Brookline Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EMC Capital Management purchased a new stake in Brookline Bancorp in the first quarter worth about $140,000. Price T Rowe Associates Inc. MD grew its position in shares of Brookline Bancorp by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank’s stock worth $742,000 after purchasing an additional 3,040 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Brookline Bancorp during the first quarter worth about $47,000. Vanguard Group Inc. grew its position in shares of Brookline Bancorp by 0.5% during the first quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank’s stock worth $101,049,000 after purchasing an additional 54,211 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Brookline Bancorp by 126.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 56,337 shares of the bank’s stock worth $592,000 after purchasing an additional 31,410 shares in the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Down 2.4 %

Shares of NASDAQ:BRKL opened at $8.70 on Friday. The company has a market cap of $773.34 million, a P/E ratio of 9.35 and a beta of 0.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp has a 1 year low of $7.93 and a 1 year high of $11.52. The stock’s fifty day moving average price is $9.15 and its 200-day moving average price is $9.78.

Brookline Bancorp (NASDAQ:BRKLGet Free Report) last posted its earnings results on Wednesday, April 24th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.09%. The firm had revenue of $87.87 million during the quarter, compared to the consensus estimate of $91.77 million. Sell-side analysts expect that Brookline Bancorp will post 0.72 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp’s payout ratio is 58.07%.

About Brookline Bancorp

(Get Free Report

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.

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