Brookline Bancorp (NASDAQ:BRKL) Given New $10.50 Price Target at Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL) had its price target reduced by Keefe, Bruyette & Woods from $12.00 to $10.50 in a report published on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Several other research analysts have also commented on BRKL. StockNews.com upgraded shares of Brookline Bancorp from a sell rating to a hold rating in a report on Thursday, January 25th. Piper Sandler reissued an overweight rating and issued a $12.00 target price on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $11.08.

Brookline Bancorp Trading Down 1.0 %

BRKL stock opened at $8.34 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. The company has a market cap of $747.23 million, a price-to-earnings ratio of 8.96 and a beta of 0.75. The business has a fifty day simple moving average of $9.51 and a 200-day simple moving average of $9.78. Brookline Bancorp has a 52 week low of $7.00 and a 52 week high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $160.35 million during the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that Brookline Bancorp will post 0.97 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 6.48%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is 58.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Brookline Bancorp by 24.0% during the 4th quarter. Jennison Associates LLC now owns 4,493,648 shares of the bank’s stock worth $49,026,000 after buying an additional 870,327 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Brookline Bancorp by 1,699.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,217 shares of the bank’s stock worth $2,270,000 after acquiring an additional 235,366 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Brookline Bancorp by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock valued at $9,379,000 after purchasing an additional 63,039 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in Brookline Bancorp in the third quarter valued at about $486,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Brookline Bancorp by 7.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock valued at $322,000 after purchasing an additional 2,373 shares in the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.

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.