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

Brookline Bancorp (NASDAQ:BRKL) had its price target reduced by Keefe, Bruyette & Woods from $12.00 to $10.50 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 25.97% from the company’s previous close.

A number of other equities research analysts have also commented on BRKL. Piper Sandler restated an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.08.

Brookline Bancorp Trading Down 1.0 %

BRKL stock opened at $8.34 on Friday. Brookline Bancorp has a 1-year low of $7.00 and a 1-year high of $11.52. The firm has a market cap of $747.23 million, a P/E ratio of 8.96 and a beta of 0.75. The business’s 50 day moving average is $9.51 and its 200-day moving average is $9.78. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 1.14.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. During the same period in the prior year, the company earned $0.39 EPS. Equities analysts anticipate that Brookline Bancorp will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its position in Brookline Bancorp by 12.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 50,002 shares of the bank’s stock valued at $498,000 after buying an additional 5,598 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Brookline Bancorp by 14.5% in the 1st quarter. Hennessy Advisors Inc. now owns 315,000 shares of the bank’s stock valued at $3,137,000 after purchasing an additional 40,000 shares during the period. Vanguard Group Inc. raised its stake in Brookline Bancorp by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after buying an additional 32,790 shares during the period. Hsbc Holdings PLC acquired a new stake in Brookline Bancorp during the 4th quarter worth $1,881,000. Finally, Aigen Investment Management LP raised its stake in Brookline Bancorp by 106.6% during the 4th quarter. Aigen Investment Management LP now owns 31,198 shares of the bank’s stock worth $340,000 after buying an additional 16,094 shares during the period. 78.91% of the stock is currently owned by institutional investors.

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.