Brookline Bancorp (NASDAQ:BRKL) PT Raised to $11.00 at Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $10.50 to $11.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 5.57% from the company’s previous close.

Brookline Bancorp Price Performance

Shares of BRKL stock opened at $10.42 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. Brookline Bancorp has a twelve month low of $7.93 and a twelve month high of $11.52. The company has a market cap of $926.23 million, a P/E ratio of 11.20 and a beta of 0.79. The business has a fifty day simple moving average of $8.82 and a 200 day simple moving average of $9.39.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Brookline Bancorp had a return on equity of 6.53% and a net margin of 12.04%. The firm had revenue of $161.75 million for the quarter, compared to analyst estimates of $89.40 million. During the same period last year, the firm posted $0.26 earnings per share. On average, sell-side analysts forecast that Brookline Bancorp will post 0.72 EPS for the current fiscal year.

Institutional Trading of Brookline Bancorp

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Brookline Bancorp by 2,268.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after acquiring an additional 2,200 shares during the period. GAMMA Investing LLC acquired a new position in shares of Brookline Bancorp in the fourth quarter worth approximately $34,000. EntryPoint Capital LLC acquired a new position in shares of Brookline Bancorp in the first quarter worth approximately $47,000. CWM LLC lifted its stake in shares of Brookline Bancorp by 1,806.5% in the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after acquiring an additional 8,364 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Brookline Bancorp in the second quarter worth approximately $102,000. 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.