Brookline Bancorp (NASDAQ:BRKL) Shares Gap Down to $9.54

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.54, but opened at $9.04. Brookline Bancorp shares last traded at $8.31, with a volume of 167,067 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BRKL shares. Piper Sandler reissued an "overweight" rating and set a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. StockNews.com raised Brookline Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Brookline Bancorp has an average rating of "Moderate Buy" and an average price target of $11.38.

Brookline Bancorp Stock Down 11.7 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The business's fifty day moving average price is $9.55 and its 200 day moving average price is $9.78. The firm has a market capitalization of $754.85 million, a PE ratio of 9.79 and a beta of 0.75.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a return on equity of 7.87% and a net margin of 12.31%. The firm had revenue of $160.35 million during the quarter, compared to the consensus estimate of $89.38 million. During the same period in the prior year, the business earned $0.39 EPS. On average, equities research analysts forecast that Brookline Bancorp, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookline Bancorp

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in Brookline Bancorp by 2,268.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank's stock worth $25,000 after purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC purchased a new position in Brookline Bancorp in the 4th quarter valued at approximately $34,000. Advisor Partners II LLC purchased a new position in Brookline Bancorp in the 3rd quarter valued at approximately $104,000. Fox Run Management L.L.C. acquired a new position in Brookline Bancorp during the third quarter worth $106,000. Finally, Ieq Capital LLC purchased a new stake in Brookline Bancorp during the third quarter worth $110,000. Hedge funds and other institutional investors own 78.91% of the company's stock.

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.