Brookline Bancorp (NASDAQ:BRKL) Price Target Raised to $11.00 at Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL) had its price objective upped by Keefe, Bruyette & Woods from $10.50 to $11.00 in a research note published on Friday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Brookline Bancorp Stock Down 0.9 %

NASDAQ BRKL opened at $10.41 on Friday. The stock has a 50 day moving average price of $8.88 and a 200-day moving average price of $9.38. Brookline Bancorp has a one year low of $7.93 and a one year high of $11.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.11. The company has a market capitalization of $925.34 million, a P/E ratio of 11.19 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The company had revenue of $161.75 million for the quarter, compared to the consensus estimate of $89.40 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts predict that Brookline Bancorp will post 0.73 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.135 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.54 annualized dividend and a yield of 5.19%. Brookline Bancorp’s dividend payout ratio is currently 58.07%.

Institutional Investors Weigh In On Brookline Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its stake in shares of 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 purchasing an additional 2,200 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Brookline Bancorp during the 4th quarter valued at approximately $34,000. EntryPoint Capital LLC purchased a new stake in Brookline Bancorp during the 1st quarter valued at $47,000. CWM LLC lifted its position in Brookline Bancorp by 1,806.5% in the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after buying an additional 8,364 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Brookline Bancorp during the fourth quarter worth $134,000. 78.91% of the stock is owned by institutional investors.

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.