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

Brookline Bancorp (NASDAQ:BRKL) had its price target decreased by analysts at 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’ price target suggests a potential upside of 25.97% from the stock’s previous close.

A number of other research analysts have also weighed in on BRKL. 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. 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’s stock. According to MarketBeat, Brookline Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.08.

Brookline Bancorp Stock Down 1.0 %

Brookline Bancorp 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 capitalization of $747.23 million, a price-to-earnings ratio of 8.96 and a beta of 0.75. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 1.14. The firm has a 50 day simple moving average of $9.51 and a 200 day simple moving average of $9.78.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in shares of Brookline Bancorp by 2,268.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Brookline Bancorp during the 4th quarter valued at $34,000. Advisor Partners II LLC purchased a new position in shares of Brookline Bancorp during the 3rd quarter valued at $104,000. Fox Run Management L.L.C. bought a new stake in shares of Brookline Bancorp during the 3rd quarter worth $106,000. Finally, Ieq Capital LLC bought a new stake in shares of Brookline Bancorp during the 3rd quarter worth $110,000. 78.91% of the stock is currently owned by hedge funds and other 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.