Brookline Bancorp, Inc. (NASDAQ:BRKL) Receives Average Rating of “Buy” from Analysts

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) have earned a consensus rating of “Buy” from the three brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.38.

BRKL has been the subject of several analyst reports. StockNews.com raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. TheStreet raised shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th.

Institutional Investors Weigh In On Brookline Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. grew its position in Brookline Bancorp by 12.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 50,002 shares of the bank’s stock worth $498,000 after purchasing an additional 5,598 shares during the period. Hennessy Advisors Inc. grew its position in Brookline Bancorp by 14.5% in the 1st quarter. Hennessy Advisors Inc. now owns 315,000 shares of the bank’s stock worth $3,137,000 after purchasing an additional 40,000 shares during the period. Vanguard Group Inc. grew its position in Brookline Bancorp by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after purchasing an additional 32,790 shares during the period. Hsbc Holdings PLC bought a new stake in Brookline Bancorp in the 4th quarter worth approximately $1,881,000. Finally, Aigen Investment Management LP grew its position in Brookline Bancorp by 106.6% in the 4th quarter. Aigen Investment Management LP now owns 31,198 shares of the bank’s stock worth $340,000 after purchasing an additional 16,094 shares during the period. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL opened at $9.56 on Wednesday. Brookline Bancorp has a fifty-two week low of $7.00 and a fifty-two week high of $11.52. The company has a 50 day simple moving average of $9.59 and a two-hundred day simple moving average of $9.79. The company has a market capitalization of $857.05 million, a price-to-earnings ratio of 11.12 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. The business had revenue of $160.35 million during the quarter, compared to the consensus estimate of $89.38 million. During the same quarter last year, the firm earned $0.39 earnings per share. Analysts expect that Brookline Bancorp will post 0.97 EPS for the current fiscal year.

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.