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

Brookline Bancorp (NASDAQ:BRKL) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $12.00 to $10.50 in a research note issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 26.51% from the company’s previous close.

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

Brookline Bancorp Stock Performance

Brookline Bancorp stock traded down $0.12 during midday trading on Friday, hitting $8.30. The stock had a trading volume of 264,185 shares, compared to its average volume of 445,607. The firm’s fifty day moving average is $9.55 and its two-hundred day moving average is $9.78. The company has a market capitalization of $744.10 million, a PE ratio of 8.92 and a beta of 0.75. Brookline Bancorp has a 52-week low of $7.00 and a 52-week high of $11.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $160.35 million during the quarter, compared to the consensus estimate of $89.38 million. Brookline Bancorp had a return on equity of 7.12% and a net margin of 13.13%. During the same period in the prior year, the company earned $0.39 EPS. On average, research analysts forecast that Brookline Bancorp will post 0.97 EPS for the current year.

Hedge Funds Weigh In On Brookline Bancorp

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in shares of Brookline Bancorp by 2,268.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after purchasing an additional 2,200 shares during the period. GAMMA Investing LLC purchased a new position in shares of Brookline Bancorp during the 4th quarter worth $34,000. Advisor Partners II LLC purchased a new position in shares of Brookline Bancorp during the 3rd quarter worth $104,000. Fox Run Management L.L.C. purchased a new position in shares of Brookline Bancorp during the 3rd quarter worth $106,000. Finally, Ieq Capital LLC purchased a new position in shares of Brookline Bancorp during the 3rd quarter worth $110,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

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.