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

Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp (NASDAQ:BRKL) from an outperform rating to a market perform rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $14.50 target price on the bank’s stock.

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

Brookline Bancorp Price Performance

NASDAQ BRKL opened at $11.96 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.07 billion, a P/E ratio of 14.41 and a beta of 0.78. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The firm’s fifty day simple moving average is $11.97 and its two-hundred day simple moving average is $10.42.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results 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. The business had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter last year, the company earned $0.26 earnings per share. Analysts forecast that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s payout ratio is presently 65.06%.

Hedge Funds Weigh In On Brookline Bancorp

Several large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after buying an additional 3,279 shares in the last quarter. SG Americas Securities LLC acquired a new position in Brookline Bancorp in the 2nd quarter worth about $102,000. Creative Planning purchased a new position in Brookline Bancorp during the third quarter worth approximately $103,000. Townsquare Capital LLC purchased a new stake in shares of Brookline Bancorp in the third quarter valued at approximately $111,000. Finally, XTX Topco Ltd acquired a new position in shares of Brookline Bancorp during the 2nd quarter worth approximately $115,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.