Brokers Offer Predictions for Brookline Bancorp, Inc.’s Q1 2020 Earnings (NASDAQ:BRKL)
Brookline Bancorp, Inc. (NASDAQ:BRKL) – Investment analysts at Piper Sandler cut their Q1 2020 earnings per share estimates for shares of Brookline Bancorp in a research note issued on Monday, March 23rd. Piper Sandler analyst M. Fitzgibbon now anticipates that the bank will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.28. Piper Sandler also issued estimates for Brookline Bancorp’s Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.21 EPS, Q4 2020 earnings at $0.22 EPS, Q1 2021 earnings at $0.21 EPS, Q2 2021 earnings at $0.22 EPS, Q3 2021 earnings at $0.23 EPS and Q4 2021 earnings at $0.23 EPS.
BRKL has been the subject of a number of other research reports. Zacks Investment Research downgraded Brookline Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. BidaskClub cut Brookline Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 14th. ValuEngine raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, TheStreet cut Brookline Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, March 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.67.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $0.28 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $71.69 million for the quarter, compared to analyst estimates of $71.56 million. Brookline Bancorp had a net margin of 23.24% and a return on equity of 9.56%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRKL. First Trust Advisors LP grew its stake in shares of Brookline Bancorp by 73.4% during the first quarter. First Trust Advisors LP now owns 148,005 shares of the bank’s stock worth $2,131,000 after purchasing an additional 62,666 shares during the period. California State Teachers Retirement System lifted its holdings in Brookline Bancorp by 1.2% during the third quarter. California State Teachers Retirement System now owns 122,213 shares of the bank’s stock worth $1,800,000 after acquiring an additional 1,460 shares in the last quarter. Millennium Management LLC lifted its holdings in Brookline Bancorp by 57.2% during the third quarter. Millennium Management LLC now owns 366,130 shares of the bank’s stock worth $5,393,000 after acquiring an additional 133,162 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Brookline Bancorp by 43.3% in the fourth quarter. Boston Trust Walden Corp now owns 21,500 shares of the bank’s stock valued at $354,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Zeke Capital Advisors LLC lifted its holdings in shares of Brookline Bancorp by 2.4% in the fourth quarter. Zeke Capital Advisors LLC now owns 69,652 shares of the bank’s stock valued at $1,146,000 after purchasing an additional 1,623 shares in the last quarter. 81.45% of the stock is owned by institutional investors.
In related news, Director Charles H. Peck sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.35, for a total transaction of $163,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 24,000 shares of company stock valued at $373,700 in the last 90 days. 2.54% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.115 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.30%. Brookline Bancorp’s dividend payout ratio is currently 41.82%.
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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