Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.38.
Several research analysts recently commented on the company. Zacks Investment Research raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Friday, May 3rd. ValuEngine raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Piper Jaffray Companies raised Brookline Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.50 to $17.00 in a research report on Thursday, May 2nd. BidaskClub raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research report on Wednesday, February 13th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of Brookline Bancorp in the fourth quarter valued at approximately $58,000. Vanguard Group Inc. increased its stake in Brookline Bancorp by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,952,147 shares of the bank’s stock worth $132,801,000 after acquiring an additional 260,206 shares during the period. M&T Bank Corp bought a new position in Brookline Bancorp during the 4th quarter worth $916,000. PNC Financial Services Group Inc. increased its stake in Brookline Bancorp by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 37,273 shares of the bank’s stock worth $516,000 after acquiring an additional 762 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Brookline Bancorp by 21.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,278,025 shares of the bank’s stock worth $17,662,000 after acquiring an additional 226,761 shares during the period. 76.67% of the stock is owned by institutional investors.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Brookline Bancorp had a return on equity of 9.78% and a net margin of 24.61%. The firm had revenue of $69.63 million during the quarter, compared to analysts’ expectations of $69.40 million. As a group, research analysts forecast that Brookline Bancorp will post 1.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Brookline Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 41.12%.
About Brookline Bancorp
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts, as well as commercial, municipal, and retail deposits.
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