Brookline Bancorp (NASDAQ:BRKL) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) posted its quarterly earnings results on Wednesday. The bank reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01, Zacks reports. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.09%. The company had revenue of $161.75 million for the quarter, compared to analyst estimates of $89.40 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share.

Brookline Bancorp Price Performance

NASDAQ:BRKL traded up $0.14 during mid-day trading on Thursday, hitting $10.42. 539,055 shares of the stock traded hands, compared to its average volume of 473,841. The business’s 50-day moving average price is $8.82 and its 200 day moving average price is $9.39. The company has a market cap of $926.23 million, a PE ratio of 11.20 and a beta of 0.79. Brookline Bancorp has a 12-month low of $7.93 and a 12-month high of $11.52. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BRKL shares. Keefe, Bruyette & Woods lowered their price target on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.08.

Brookline Bancorp Company Profile

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.