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

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) had its target price cut by Keefe, Bruyette & Woods from $12.00 to $10.50 in a report issued on Friday, Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 25.97% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler reiterated an "overweight" rating and set a $12.00 target price on shares of Brookline Bancorp in a report on Wednesday, March 27th. StockNews.com upgraded shares of Brookline Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Brookline Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $11.08.

Brookline Bancorp Trading Down 1.0 %

BRKL traded down $0.08 on Friday, reaching $8.34. 637,357 shares of the company's stock were exchanged, compared to its average volume of 450,439. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52. The company's 50 day moving average is $9.51 and its 200-day moving average is $9.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $747.23 million, a price-to-earnings ratio of 8.96 and a beta of 0.75.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.12%. The company had revenue of $160.35 million during the quarter, compared to the consensus estimate of $89.38 million. During the same period in the previous year, the firm earned $0.39 earnings per share. Equities analysts predict that Brookline Bancorp will post 0.97 earnings per share for the current year.

Institutional Trading of Brookline Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in Brookline Bancorp by 2,268.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank's stock valued at $25,000 after buying an additional 2,200 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Brookline Bancorp by 7.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank's stock worth $322,000 after purchasing an additional 2,373 shares during the last quarter. GAMMA Investing LLC bought a new position in Brookline Bancorp during the fourth quarter worth $34,000. Swiss National Bank boosted its holdings in Brookline Bancorp by 1.7% in the third quarter. Swiss National Bank now owns 195,600 shares of the bank's stock worth $1,782,000 after purchasing an additional 3,300 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Brookline Bancorp by 13.4% during the fourth quarter. Victory Capital Management Inc. now owns 28,542 shares of the bank's stock valued at $311,000 after purchasing an additional 3,363 shares during the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.

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.