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

Brookline Bancorp, Inc. (NASDAQ:BRKL) 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 changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BRKL. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Brookline Bancorp Price Performance

The business has a 50-day simple moving average of $9.58 and a 200 day simple moving average of $9.79. The firm has a market cap of $754.85 million, a P/E ratio of 9.43 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $89.38 million. During the same quarter in the prior year, the business earned $0.39 EPS. On average, analysts anticipate that Brookline Bancorp, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Brookline Bancorp by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after acquiring an additional 32,790 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Brookline Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,008,133 shares of the bank’s stock worth $54,640,000 after acquiring an additional 37,879 shares during the period. Jennison Associates LLC grew its holdings in shares of Brookline Bancorp by 24.0% during the 4th quarter. Jennison Associates LLC now owns 4,493,648 shares of the bank’s stock worth $49,026,000 after acquiring an additional 870,327 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Brookline Bancorp by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,487,227 shares of the bank’s stock worth $31,769,000 after acquiring an additional 41,924 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Brookline Bancorp by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,091,845 shares of the bank’s stock worth $11,912,000 after acquiring an additional 62,286 shares during the period. 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.