Brookline Bancorp (BRKL) Scheduled to Post Earnings on Wednesday

Brookline Bancorp (NASDAQ:BRKL) will be posting 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. Investors that wish to register for the company’s conference call can do so using this link.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a return on equity of 7.87% and a net margin of 12.31%. During the same period last year, the company posted $0.39 earnings per share. 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 Performance

Shares of BRKL opened at $9.01 on Wednesday. The firm has a market cap of $807.75 million, a PE ratio of 10.48 and a beta of 0.75. The stock’s fifty day moving average price is $9.65 and its two-hundred day moving average price is $9.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. Brookline Bancorp has a 1 year low of $7.00 and a 1 year high of $11.52.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.99%. Brookline Bancorp’s payout ratio is 62.79%.

Wall Street Analyst Weigh In

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

Institutional Trading of Brookline Bancorp

Several large investors have recently modified their holdings of BRKL. BlackRock Inc. lifted its position in shares of Brookline Bancorp by 16.6% in the first quarter. BlackRock Inc. now owns 13,012,406 shares of the bank’s stock valued at $136,630,000 after acquiring an additional 1,848,069 shares in the last quarter. State Street Corp grew its stake in shares of Brookline Bancorp by 27.4% during the first quarter. State Street Corp now owns 4,327,813 shares of the bank’s stock valued at $45,442,000 after buying an additional 930,622 shares during the last quarter. Norges Bank bought a new position in shares of Brookline Bancorp during the fourth quarter valued at approximately $6,555,000. Invesco Ltd. grew its stake in shares of Brookline Bancorp by 125.5% during the first quarter. Invesco Ltd. now owns 1,055,528 shares of the bank’s stock valued at $16,698,000 after buying an additional 587,460 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Brookline Bancorp by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,712,823 shares of the bank’s stock valued at $59,984,000 after buying an additional 371,124 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

About Brookline Bancorp

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.