Brookline Bancorp (NASDAQ:BRKL) Stock Rating Lowered by Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $14.50 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 21.24% from the stock’s current price.

Separately, Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.17.

Brookline Bancorp Price Performance

BRKL opened at $11.96 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $12.00 and a 200 day moving average of $10.43. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The stock has a market cap of $1.07 billion, a P/E ratio of 14.41 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The firm had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, sell-side analysts anticipate that Brookline Bancorp will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BRKL. EMC Capital Management boosted its position in Brookline Bancorp by 13.0% during the third quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock valued at $160,000 after purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookline Bancorp by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after buying an additional 2,002 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Brookline Bancorp by 4.4% in the 3rd quarter. Captrust Financial Advisors now owns 64,734 shares of the bank’s stock worth $653,000 after buying an additional 2,730 shares during the last quarter. FMR LLC raised its stake in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Brookline Bancorp by 7.1% during the second quarter. Sei Investments Co. now owns 51,037 shares of the bank’s stock valued at $426,000 after acquiring an additional 3,397 shares during the last quarter. 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.