Keefe, Bruyette & Woods Trims Brookline Bancorp (NASDAQ:BRKL) Target Price to $10.50

Brookline Bancorp (NASDAQ:BRKL) had its price target decreased by equities research analysts at Keefe, Bruyette & Woods from $12.00 to $10.50 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 26.51% from the stock’s current price.

Several other equities analysts have also weighed in on BRKL. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookline Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.08.

Brookline Bancorp Stock Down 1.4 %

NASDAQ BRKL traded down $0.12 during trading on Friday, hitting $8.30. 264,185 shares of the company traded hands, compared to its average volume of 445,607. Brookline Bancorp has a 12 month low of $7.00 and a 12 month high of $11.52. The business has a fifty day simple moving average of $9.55 and a 200 day simple moving average of $9.78. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $744.10 million, a P/E ratio of 8.92 and a beta of 0.75.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a return on equity of 7.12% and a net margin of 13.13%. The company had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. During the same period last year, the company earned $0.39 earnings per share. As a group, sell-side analysts predict that Brookline Bancorp will post 0.97 EPS for the current year.

Institutional Investors Weigh In On Brookline Bancorp

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Brookline Bancorp during the third quarter worth about $131,000. Cambridge Investment Research Advisors Inc. boosted its stake in Brookline Bancorp by 46.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,915 shares of the bank’s stock valued at $136,000 after buying an additional 4,728 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Brookline Bancorp by 70.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,472 shares of the bank’s stock valued at $150,000 after acquiring an additional 6,825 shares during the period. Advisor Partners II LLC acquired a new position in Brookline Bancorp during the third quarter worth $104,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Brookline Bancorp by 7.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock valued at $322,000 after acquiring an additional 2,373 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

About Brookline Bancorp

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.