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

Keefe, Bruyette & Woods lowered shares of Brookline Bancorp (NASDAQ:BRKL) from an outperform rating to a market perform rating in a report published on Tuesday, Marketbeat Ratings reports. They currently have $14.50 price target on the bank’s stock.

Separately, Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.17.

Brookline Bancorp Trading Up 0.1 %

Shares of Brookline Bancorp stock opened at $11.96 on Tuesday. Brookline Bancorp has a twelve month low of $8.01 and a twelve month 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 business has a 50-day moving average price of $11.97 and a 200-day moving average price of $10.42. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 14.41 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating 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 in the prior year, the company earned $0.26 EPS. Equities research analysts anticipate that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Brookline Bancorp in the 2nd quarter worth approximately $102,000. Creative Planning bought a new position in shares of Brookline Bancorp during the third quarter valued at approximately $103,000. Townsquare Capital LLC purchased a new position in Brookline Bancorp during the third quarter valued at approximately $111,000. Finally, XTX Topco Ltd bought a new position in Brookline Bancorp in the second quarter worth approximately $115,000. 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.