Brookline Bancorp (BRKL) Tops Q3 Earnings and Revenue Estimates

Group 1: Earnings Performance - Brookline Bancorp (BRKL) reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.20 per share, but down from $0.26 per share a year ago, representing an earnings surprise of 15% [1] - The company posted revenues of $89.36 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.78%, compared to revenues of $89.58 million a year ago [1] - Over the last four quarters, Brookline has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [1] Group 2: Stock Performance and Outlook - Brookline shares have declined approximately 4.2% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The company's earnings outlook is crucial for investors, as empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] - The current consensus EPS estimate for the upcoming quarter is $0.21 on revenues of $90.35 million, and for the current fiscal year, it is $0.77 on revenues of $353.3 million [4] Group 3: Industry Context - The Financial - Savings and Loan industry, to which Brookline belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable outlook [5] - HomeStreet (HMST), another company in the same industry, is expected to report a quarterly loss of $0.20 per share, reflecting a year-over-year change of -266.7%, with revenues projected to be $42.93 million, down 13.1% from the previous year [5]