Brookline Bancorp, Inc. (NASDAQ:BRKL) declared that its Board of Directors has initiated a share buyback plan, which allows the company to repurchase $10.00 million in outstanding shares on Thursday, December 6th. This repurchase authorization allows the bank to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts recently issued reports on BRKL shares. Zacks Investment Research raised Brookline Bancorp, Inc. from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. BidaskClub raised Brookline Bancorp, Inc. from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Finally, Sandler O’Neill raised Brookline Bancorp, Inc. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.00.
BRKL traded down $0.21 during trading on Tuesday, reaching $12.86. 383,429 shares of the company were exchanged, compared to its average volume of 411,312. The company has a market cap of $1.05 billion, a P/E ratio of 16.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17. Brookline Bancorp, Inc. has a 52 week low of $12.86 and a 52 week high of $19.35.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $69.40 million during the quarter, compared to the consensus estimate of $68.80 million. Brookline Bancorp, Inc. had a return on equity of 9.13% and a net margin of 21.27%. As a group, research analysts anticipate that Brookline Bancorp will post 1.05 earnings per share for the current year.
Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.