Keefe, Bruyette & Woods Downgrades Brookline Bancorp (NASDAQ:BRKL) to Market Perform

Brookline Bancorp (NASDAQ:BRKL) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday,Finviz reports.

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

Brookline Bancorp Price Performance

Brookline Bancorp stock opened at $11.95 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 stock has a market cap of $1.06 billion, a P/E ratio of 14.40 and a beta of 0.78. The company has a 50-day moving average price of $11.94 and a 200 day moving average price of $10.39. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15.

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

Hedge Funds Weigh In On Brookline Bancorp

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Brookline Bancorp during the 2nd quarter worth $102,000. Bank of New York Mellon Corp increased its position in Brookline Bancorp by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock valued at $9,868,000 after acquiring an additional 56,291 shares during the period. Crestwood Advisors Group LLC lifted its position in Brookline Bancorp by 164.6% during the 2nd quarter. Crestwood Advisors Group LLC now owns 32,149 shares of the bank’s stock worth $268,000 after acquiring an additional 20,000 shares during the period. Princeton Capital Management LLC purchased a new position in shares of Brookline Bancorp in the 2nd quarter valued at approximately $150,000. Finally, CM Management LLC increased its holdings in shares of Brookline Bancorp by 5.6% in the second quarter. CM Management LLC now owns 190,000 shares of the bank’s stock valued at $1,586,000 after purchasing an additional 10,000 shares during the period. 78.91% of the stock is 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.