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Last $11.27 USD
Change Today -0.06 / -0.53%
Volume 307.1K
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

brookline bancorp inc (BRKL) Key Developments

Brookline Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Charge Offs for the Second Quarter of 2015; Announces Quarterly Dividend Payable on August 21, 2015; Provides Tax Rate Guidance for the Full Year 2015

Brookline Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net interest income of USD 473.172 million compared to USD 46.434 million a year ago. Income before provision for income taxes was USD 19.674 million compared to USD 16.765 million a year ago. Net income attributable to the company was USD 11.865 million compared to USD 10.131 million a year ago. Diluted earnings per share was USD 0.17 compared to USD 0.14 a year ago. The decrease in net interest income is largely a result of the sale of indirect automobile loans at the end of the first quarter offset by loan growth in the second quarter. The return on average assets increased during the second quarter of 2015 to 0.82% at June 30, 2015 from 0.80% for the first quarter of 2015. The return on average tangible assets increased to 0.85% for the second quarter of 2015 from 0.82% for the first quarter of 2015. The return on average stockholders' equity increased during the second quarter of 2015 to 7.24% from 7.22% for the first quarter of 2015. The return on average tangible stockholders' equity decreased to 9.40% for the second quarter of 2015 from 9.41% for the first quarter of 2015. Book value per share was USD 9.33 compared to USD 8.99 a year ago. Tangible book value per share was USD 7.19 compared to USD 6.80 a year ago. For the six months, the company reported net interest income of USD 95.700 million compared to USD 994.168 million a year ago. Income before provision for income taxes was USD 39.083 million compared to USD 34.108 million a year ago. Net income attributable to the company was USD 23.568 million compared to USD 20.673 million a year ago. Diluted earnings per share was USD 0.34 compared to USD 0.29 a year ago. For the second quarter of 2015, the company reported net charge offs of USD 0.501 million compared to USD 0.720 million a year ago. The company announced the approval by its Board of Directors of a regular quarterly dividend of USD 0.09 per share payable on August 21, 2015 to stockholders of record on August 7, 2015. For the year 2015, the company expects effective tax rate to be 36.4%.

Brookline Bancorp, Inc., Q2 2015 Earnings Call, Jul 23, 2015

Brookline Bancorp, Inc., Q2 2015 Earnings Call, Jul 23, 2015

Brookline Bancorp, Inc. to Report Q2, 2015 Results on Jul 22, 2015

Brookline Bancorp, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 22, 2015

Brookline Bancorp, Inc. Names John M. Pereira to Board of Directors

Brookline Bancorp, Inc. announced that its board of directors approved an increase in the number of members of its board of directors to 14 members and appointed John M. Pereira as a director to fill the vacancy created by that action. Mr. Pereira is President of Combined Properties, Inc. Prior to joining Combined Properties, Mr. Pereira was a partner with the law firm of Sherin and Lodgen in Boston. Mr. Pereira is active in the community, serving as a director for Triangle, Inc., and as member of the development committee for Mystic Valley Elder Services. He is a registered real estate broker and is a member of the Greater Boston Real Estate Board. He is also a member of the Massachusetts Bar Association, National Association of Office and Industrial Properties, Real Estate Finance Association, Chelsea Boys and Girls Club Breakfast Club, and the Chelsea, Malden, Medford, and North Shore Chambers of Commerce. Mr. Pereira joined the board of directors of Brookline Bank in March 2015.

Brookline Bancorp, Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Announce Net Charge-offs for the First Quarter Ended First Quarter of 2015

Brookline Bancorp, Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total interest and dividend income of $56,609,000 against $54,694,000 a year ago. Net interest income was $48,265,000 against $47,734,000 a year ago. Income before provision for income taxes was $19,409,000 against $17,343,000 a year ago. Net income attributable to company was $11,703,000 against $10,542,000 a year ago. Earnings per diluted share were $0.17 against $0.15 a year ago. The return on average assets was 0.80% against 0.79% a year ago. Return on average stockholders' equity was 7.22% against 6.78% a year ago. Book value per share (end of period) was $9.30. The company reported net charge-offs of $854,000 for the first quarter ended first quarter of 2015 against $666,000 a year ago.

 

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Industry Analysis

BRKL

Industry Average

Valuation BRKL Industry Range
Price/Earnings 17.3x
Price/Sales 4.0x
Price/Book 1.2x
Price/Cash Flow 17.3x
TEV/Sales NM Not Meaningful
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