Brokerages Anticipate Brookline Bancorp, Inc. (BRKL) Will Post Earnings of $0.21 Per Share

Brokerages forecast that Brookline Bancorp, Inc. (NASDAQ:BRKL) will post $0.21 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued 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 business is expected to report its next quarterly earnings report on Wednesday, January 24th.

On average, analysts expect that Brookline Bancorp will report full year earnings of $0.80 per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of $0.90 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Brookline Bancorp.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The firm had revenue of $62.82 million for the quarter, compared to the consensus estimate of $60.37 million. Brookline Bancorp had a net margin of 19.82% and a return on equity of 7.52%. During the same period last year, the firm posted $0.19 EPS.

A number of research firms have commented on BRKL. Sandler O’Neill downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. BidaskClub downgraded shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.83.

In related news, Director Thomas J. Hollister sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $15.75, for a total value of $55,125.00. Following the sale, the director now directly owns 28,500 shares in the company, valued at approximately $448,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hall II bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average price of $15.48 per share, for a total transaction of $309,600.00. The disclosure for this purchase can be found here. Insiders have sold a total of 142,255 shares of company stock worth $2,138,396 over the last 90 days. 2.85% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new stake in shares of Brookline Bancorp in the 2nd quarter worth approximately $150,000. Virtu KCG Holdings LLC bought a new stake in shares of Brookline Bancorp in the 2nd quarter worth approximately $176,000. Victory Capital Management Inc. raised its holdings in shares of Brookline Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock worth $177,000 after purchasing an additional 1,819 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Brookline Bancorp in the 3rd quarter worth approximately $197,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Brookline Bancorp in the 2nd quarter worth approximately $228,000. Institutional investors and hedge funds own 77.63% of the company’s stock.

Shares of Brookline Bancorp (NASDAQ BRKL) traded up $0.05 during trading hours on Friday, reaching $15.80. 177,000 shares of the company traded hands, compared to its average volume of 384,613. The company has a market cap of $1,207.28, a P/E ratio of 20.19 and a beta of 0.97. Brookline Bancorp has a 12-month low of $13.60 and a 12-month high of $17.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.16 and a current ratio of 1.16.

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About Brookline Bancorp

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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