Brookline Bancorp (NASDAQ:BRKL) Lowered to Market Perform Rating by Keefe, Bruyette & Woods

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

Separately, Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.17.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL opened at $11.95 on Tuesday. The firm has a fifty day simple moving average of $11.94 and a two-hundred day simple moving average of $10.39. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.06 billion, a P/E ratio of 14.40 and a beta of 0.78.

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

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds have recently made changes to their positions in BRKL. SG Americas Securities LLC acquired a new stake in shares of Brookline Bancorp in the second quarter worth $102,000. Bank of New York Mellon Corp increased its position in shares of Brookline Bancorp by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock valued at $9,868,000 after buying an additional 56,291 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of Brookline Bancorp by 164.6% during the 2nd quarter. Crestwood Advisors Group LLC now owns 32,149 shares of the bank’s stock valued at $268,000 after buying an additional 20,000 shares in the last quarter. Princeton Capital Management LLC purchased a new stake in Brookline Bancorp in the 2nd quarter worth $150,000. Finally, CM Management LLC lifted its holdings in Brookline Bancorp by 5.6% during 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 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.