Wall Street brokerages expect Brookline Bancorp, Inc. (NASDAQ:BRKL) to report sales of $73.19 million for the current quarter, according to Zacks. Two analysts have made estimates for Brookline Bancorp's earnings. The highest sales estimate is $75.18 million and the lowest is $71.20 million. Brookline Bancorp posted sales of $70.52 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The company is expected to announce its next quarterly earnings results on Wednesday, July 28th.
On average, analysts expect that Brookline Bancorp will report full-year sales of $291.66 million for the current financial year, with estimates ranging from $288.90 million to $294.42 million. For the next financial year, analysts forecast that the company will report sales of $298.55 million, with estimates ranging from $296.21 million to $300.90 million. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that follow Brookline Bancorp.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Tuesday, April 27th. The bank reported $0.34 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.28 by $0.06. Brookline Bancorp had a net margin of 26.73% and a return on equity of 9.70%. The company had revenue of $73.90 million for the quarter, compared to the consensus estimate of $72.54 million.
Several analysts recently commented on BRKL shares. Raymond James increased their price objective on shares of Brookline Bancorp from $14.00 to $17.00 and gave the company an "outperform" rating in a research report on Friday, April 30th. Zacks Investment Research upgraded shares of Brookline Bancorp from a "hold" rating to a "strong-buy" rating and set a $18.00 target price on the stock in a research note on Wednesday, March 31st. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of "Buy" and a consensus price target of $15.00.
Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in Brookline Bancorp by 72.2% during the 4th quarter. Jennison Associates LLC now owns 1,299,065 shares of the bank's stock valued at $15,641,000 after buying an additional 544,815 shares in the last quarter. Citigroup Inc. grew its holdings in Brookline Bancorp by 120.6% during the 4th quarter. Citigroup Inc. now owns 21,131 shares of the bank's stock valued at $254,000 after buying an additional 11,553 shares in the last quarter. Veriti Management LLC purchased a new stake in Brookline Bancorp during the 4th quarter valued at approximately $75,000. Rhumbline Advisers grew its holdings in Brookline Bancorp by 12.3% during the 4th quarter. Rhumbline Advisers now owns 269,313 shares of the bank's stock valued at $3,243,000 after buying an additional 29,399 shares in the last quarter. Finally, Susquehanna International Group LLP grew its holdings in Brookline Bancorp by 288.8% during the 4th quarter. Susquehanna International Group LLP now owns 29,641 shares of the bank's stock valued at $357,000 after buying an additional 22,017 shares in the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.
Shares of BRKL stock opened at $16.27 on Friday. Brookline Bancorp has a one year low of $8.13 and a one year high of $17.14. The company's 50-day moving average price is $16.13. The stock has a market cap of $1.27 billion, a P/E ratio of 13.91 and a beta of 0.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.
The company also recently announced a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 14th were paid a dividend of $0.12 per share. This is a boost from Brookline Bancorp's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.95%. Brookline Bancorp's dividend payout ratio (DPR) is presently 82.76%.
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 non-interest-bearing demand checking, NOW, savings, and money market accounts.
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