Brookline Bancorp, Inc. (NASDAQ:BRKL) – Equity researchers at Piper Sandler have raised their second quarter 2022 earnings per share (EPS) estimates for Brookline Bancorp in a research note released to investors on Thursday, January 27. Piper Sandler analyst Fitzgibbon now expects the bank to earn $0.33 per share for the quarter, up from his previous forecast of $0.31. Piper Sandler also released estimates for Brookline Bancorp Q3 2022 earnings at $0.34 EPS, Q4 2022 earnings at $0.34 EPS, FY2022 earnings at $1.34 EPS, 2023 Q1 earnings at $0.35 EPS, 2023 Q2 earnings at $0.36 EPS, 2023 Q3 earnings at $0.37 EPS, 2023 Q4 earnings at $0.38 EPS and earnings FY2023 at $1.46 EPS. Brookline Bancorp Inc (NASDAQ:BRKL) last released quarterly earnings data on Wednesday, January 26. The bank reported earnings per share of $0.37 for the quarter, beating analysts’ consensus estimate of $0.33 by $0.04. Brookline Bancorp had a return on equity of 11.84% and a net margin of 33.84%. In the same quarter last year, the company achieved EPS of $0.34.
Separately, Zacks Investment Research downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a Wednesday, Dec. 29 research report.
Brookline Bancorp stock opened at $17.08 on Monday. Brookline Bancorp has a 12-month low of $12.36 and a 12-month high of $17.74. The stock’s fifty-day moving average is $16.34. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt ratio of 0.27. The stock has a market capitalization of $1.33 billion, a price-earnings ratio of 11.78 and a beta of 0.74.
A number of large investors have recently bought and sold shares of BRKL. FJ Capital Management LLC increased its stake in Brookline Bancorp by 45.2% in the third quarter. FJ Capital Management LLC now owns 2,330,000 shares of the bank valued at $35,561,000 after purchasing an additional 725,000 shares in the last quarter. Victory Capital Management Inc. increased its holdings of Brookline Bancorp stock by 1,392.6% during the third quarter. Victory Capital Management Inc. now owns 446,621 shares of the bank worth $6,815,000 after purchasing an additional 416,698 shares in the last quarter. Millennium Management LLC increased its holdings of Brookline Bancorp stock by 1,287.8% during the second quarter. Millennium Management LLC now owns 156,943 shares of the bank worth $2,346,000 after purchasing an additional 145,634 shares in the last quarter. Morgan Stanley increased its holdings of Brookline Bancorp shares by 14.0% during the second quarter. Morgan Stanley now owns 936,882 shares of the bank worth $14,007,000 after buying an additional 114,883 shares in the last quarter. Finally, State Street Corp increased its holdings of Brookline Bancorp stock by 3.2% during the second quarter. State Street Corp now owns 3,338,185 shares of the bank worth $49,906,000 after buying 104,748 additional shares in the last quarter. 80.99% of the shares are currently held by hedge funds and other institutional investors.
In related news, director John A. Hackett sold 3,000 shares in a trade on Tuesday, November 23. The stock was sold at an average price of $16.75, for a total value of $50,250.00. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Insiders have sold 6,822 shares of the company worth $113,082 over the past three months. 2.59% of the shares are currently held by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 25. Investors of record on Friday, February 11 will receive a dividend of $0.125. This represents an annualized dividend of $0.50 and a yield of 2.93%. The ex-dividend date is Thursday, February 10. Brookline Bancorp’s dividend payout ratio (DPR) is currently 34.48%.
About Brookline Bancorp
Brookline Bancorp, Inc operates as a bank holding company. It operates through the following segments: commercial real estate loans, commercial loans and leases, and consumer loans. The commercial real estate lending segment includes commercial real estate mortgages, multi-family mortgages and construction loans.
Further reading: How is the consumer price index (CPI) calculated?
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