Brookline Bancorp, Inc. (NASDAQ:BRKL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Brookline Bancorp, Inc. (NASDAQ:BRKL) has been given a consensus recommendation of “Moderate Buy” by the four brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.25.

Separately, Keefe, Bruyette & Woods upped their target price on shares of Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research note on Friday, July 26th.

Hedge Funds Weigh In On Brookline Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Brookline Bancorp by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after purchasing an additional 2,002 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Brookline Bancorp during the second quarter worth $120,000. AQR Capital Management LLC increased its stake in shares of Brookline Bancorp by 47.5% in the second quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after buying an additional 158,329 shares in the last quarter. Caxton Associates LP bought a new position in shares of Brookline Bancorp in the second quarter valued at about $318,000. Finally, Squarepoint Ops LLC lifted its position in Brookline Bancorp by 562.0% during the 2nd quarter. Squarepoint Ops LLC now owns 108,292 shares of the bank’s stock worth $904,000 after buying an additional 91,933 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $10.17 on Tuesday. The firm has a market capitalization of $904.06 million, a PE ratio of 10.94 and a beta of 0.79. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. Brookline Bancorp has a 1-year low of $7.93 and a 1-year high of $11.52. The business’s 50 day moving average is $9.40 and its 200-day moving average is $9.27.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The firm had revenue of $161.75 million for the quarter, compared to the consensus estimate of $89.40 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. Sell-side analysts predict that Brookline Bancorp will post 0.77 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.06%.

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.