Brookline Bancorp (NASDAQ:BRKL) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Brookline Bancorp (NASDAQ:BRKL) from a market perform rating to an outperform rating in a report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $14.50 price objective on the bank’s stock, up from their previous price objective of $12.00.

Brookline Bancorp Stock Up 0.1 %

BRKL stock opened at $12.62 on Wednesday. The firm’s 50-day moving average is $11.37 and its two-hundred day moving average is $10.06. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.25 and a beta of 0.78. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The business had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. During the same period last year, the company posted $0.26 EPS. On average, analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is 65.06%.

Institutional Investors Weigh In On Brookline Bancorp

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Brookline Bancorp by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank’s stock valued at $742,000 after purchasing an additional 3,040 shares during the last quarter. CWM LLC grew its stake in Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after buying an additional 8,364 shares during the last quarter. SG Americas Securities LLC acquired a new position in Brookline Bancorp during the 2nd quarter worth $102,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Brookline Bancorp by 4.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock valued at $435,000 after purchasing an additional 2,097 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its stake in shares of Brookline Bancorp by 1.6% in the second quarter. Hennessy Advisors Inc. now owns 320,000 shares of the bank’s stock worth $2,672,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 78.91% of the company’s stock.

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.