Wall Street analysts forecast that Brookline Bancorp, Inc. (NASDAQ:BRKL) will post earnings of $0.21 per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Brookline Bancorp’s earnings. Brookline Bancorp reported earnings of $0.19 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The company is scheduled to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that Brookline Bancorp will report full-year earnings of $0.90 per share for the current fiscal year. For the next financial year, analysts forecast that the business will report earnings of $1.00 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Brookline Bancorp.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, January 31st. The bank reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $63.47 million during the quarter, compared to analyst estimates of $61.22 million. Brookline Bancorp had a net margin of 17.11% and a return on equity of 7.58%. During the same period in the prior year, the business posted $0.19 EPS.
A number of brokerages have issued reports on BRKL. Piper Jaffray Companies reissued a “hold” rating and set a $16.50 price objective on shares of Brookline Bancorp in a research report on Tuesday, January 9th. BidaskClub downgraded shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, Sandler O’Neill downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th.
Shares of Brookline Bancorp (NASDAQ:BRKL) remained flat at $$16.20 during trading on Friday. 236,100 shares of the company’s stock were exchanged, compared to its average volume of 321,272. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $1,241.85, a PE ratio of 20.25 and a beta of 0.95. Brookline Bancorp has a 12 month low of $13.60 and a 12 month high of $17.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, February 15th. Brookline Bancorp’s payout ratio is currently 52.94%.
In other news, Director John A. Hackett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $16.25, for a total value of $81,250.00. Following the sale, the director now directly owns 31,500 shares of the company’s stock, valued at approximately $511,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James M. Cosman sold 12,500 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $16.76, for a total transaction of $209,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,500 shares of company stock worth $838,830. Insiders own 2.85% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BRKL. Fuller & Thaler Asset Management Inc. grew its position in shares of Brookline Bancorp by 63.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,813,898 shares of the bank’s stock worth $59,115,000 after buying an additional 1,483,727 shares during the period. Jennison Associates LLC grew its position in shares of Brookline Bancorp by 69.2% in the 4th quarter. Jennison Associates LLC now owns 1,530,972 shares of the bank’s stock worth $24,036,000 after buying an additional 625,962 shares during the period. BlackRock Inc. grew its position in shares of Brookline Bancorp by 6.5% in the 2nd quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock worth $135,794,000 after buying an additional 564,134 shares during the period. Vanguard Group Inc. grew its position in shares of Brookline Bancorp by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,931,162 shares of the bank’s stock worth $101,195,000 after buying an additional 376,821 shares during the period. Finally, State Street Corp grew its position in shares of Brookline Bancorp by 11.0% in the 2nd quarter. State Street Corp now owns 2,579,882 shares of the bank’s stock worth $37,666,000 after buying an additional 255,702 shares during the period. 76.60% of the stock is currently owned by hedge funds and other institutional investors.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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