Brookline Bancorp (NASDAQ:BRKL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) announced its quarterly earnings data on Wednesday. The bank reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01, Zacks reports. The company had revenue of $161.75 million for the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. During the same period in the previous year, the business earned $0.26 EPS.

Brookline Bancorp Stock Up 1.4 %

BRKL stock traded up $0.14 during trading on Thursday, reaching $10.42. 539,055 shares of the stock were exchanged, compared to its average volume of 473,841. The firm’s 50 day moving average is $8.82 and its 200 day moving average is $9.39. Brookline Bancorp has a twelve month low of $7.93 and a twelve month high of $11.52. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. The firm has a market cap of $926.23 million, a P/E ratio of 11.20 and a beta of 0.79.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.08.

About Brookline Bancorp

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.