Brookline Bancorp (NASDAQ:BRKL) Rating Increased to Outperform at Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a $14.50 target price on the bank’s stock, up from their prior target price of $12.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 15.91% from the stock’s current price.

Brookline Bancorp Stock Down 1.0 %

BRKL stock opened at $12.51 on Wednesday. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. The business has a fifty day moving average price of $11.22 and a 200-day moving average price of $10.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $1.11 billion, a P/E ratio of 15.07 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The firm had revenue of $165.91 million during the quarter, compared to analysts’ expectations of $88.67 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookline Bancorp

A number of hedge funds have recently made changes to their positions in BRKL. Price T Rowe Associates Inc. MD boosted its stake in Brookline Bancorp by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank’s stock valued at $742,000 after buying an additional 3,040 shares during the last quarter. CWM LLC boosted its stake in Brookline Bancorp by 1,806.5% during the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after buying an additional 8,364 shares during the last quarter. SG Americas Securities LLC bought a new position in Brookline Bancorp during the second quarter valued at approximately $102,000. Hennion & Walsh Asset Management Inc. boosted its stake in Brookline Bancorp by 4.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock valued at $435,000 after buying an additional 2,097 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in Brookline Bancorp by 1.6% during the second quarter. Hennessy Advisors Inc. now owns 320,000 shares of the bank’s stock valued at $2,672,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

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.