Brookline Bancorp, Inc. (BRKL) Receives $17.50 Consensus Target Price from Analysts

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.50.

Several research firms have recently issued reports on BRKL. BidaskClub upgraded Brookline Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. ValuEngine downgraded Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Sandler O’Neill downgraded Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Wednesday, February 13th. Zacks Investment Research upgraded Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, February 6th. Finally, Compass Point downgraded Brookline Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 8th.

BRKL stock traded up $0.10 during mid-day trading on Friday, hitting $14.71. The stock had a trading volume of 4,954 shares, compared to its average volume of 340,500. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. Brookline Bancorp has a 1-year low of $12.84 and a 1-year high of $19.35. The firm has a market cap of $1.16 billion, a P/E ratio of 13.74 and a beta of 0.91.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, January 30th. The bank reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $69.62 million for the quarter, compared to analyst estimates of $68.10 million. Brookline Bancorp had a return on equity of 9.58% and a net margin of 24.49%. As a group, research analysts expect that Brookline Bancorp will post 1.1 EPS for the current year.

Brookline Bancorp announced that its board has initiated a stock repurchase program on Thursday, December 6th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the bank to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

In related news, Director Charles H. Peck sold 12,000 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $16.09, for a total transaction of $193,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.51% of the company’s stock.

A number of large investors have recently made changes to their positions in BRKL. Patriot Financial Group Insurance Agency LLC raised its holdings in Brookline Bancorp by 31.5% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,874 shares of the bank’s stock valued at $40,000 after acquiring an additional 688 shares in the last quarter. Clean Yield Group acquired a new position in Brookline Bancorp in the 4th quarter valued at approximately $51,000. Quantamental Technologies LLC acquired a new position in Brookline Bancorp in the 4th quarter valued at approximately $51,000. Acadian Asset Management LLC acquired a new position in Brookline Bancorp in the 4th quarter valued at approximately $58,000. Finally, Magnus Financial Group LLC acquired a new position in Brookline Bancorp in the 4th quarter valued at approximately $150,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Brookline Bancorp Company Profile

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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