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

Brookline Bancorp (NASDAQ:BRKL) had its target price reduced by Keefe, Bruyette & Woods from $12.00 to $10.50 in a report issued on Friday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

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

Brookline Bancorp Stock Performance

NASDAQ BRKL opened at $8.34 on Friday. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52. The company has a quick ratio of 1.11, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. The stock has a market cap of $747.23 million, a P/E ratio of 8.96 and a beta of 0.75. The company’s 50-day simple moving average is $9.51 and its 200 day simple moving average is $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 return on equity of 7.09% and a net margin of 13.13%. The company had revenue of $160.35 million for the quarter, compared to the consensus estimate of $89.38 million. During the same period in the previous year, the business earned $0.39 earnings per share. As a group, research analysts forecast that Brookline Bancorp will post 0.97 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio is currently 58.07%.

Hedge Funds Weigh In On Brookline Bancorp

A number of large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in Brookline Bancorp by 2,268.0% in the 4th 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 during the last quarter. GAMMA Investing LLC bought a new stake in Brookline Bancorp during the 4th quarter worth about $34,000. Advisor Partners II LLC acquired a new stake in Brookline Bancorp in the third quarter valued at $104,000. Fox Run Management L.L.C. bought a new position in shares of Brookline Bancorp in the 3rd quarter valued at about $106,000. Finally, Ieq Capital LLC acquired a new stake in Brookline Bancorp in the 3rd quarter valued at about $110,000. 78.91% of the stock is currently 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.