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

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) was downgraded by Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $14.50 target price on the bank's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 21.24% from the company's previous close.

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 for the company in a report on Friday. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Brookline Bancorp presently has an average rating of "Moderate Buy" and an average price target of $14.17.

Brookline Bancorp Price Performance

NASDAQ BRKL traded up $0.01 during trading hours on Tuesday, reaching $11.96. The company's stock had a trading volume of 475,674 shares, compared to its average volume of 548,323. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.41 and a beta of 0.78. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. The company's 50-day moving average is $11.94 and its two-hundred day moving average is $10.39.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter last year, the firm earned $0.26 EPS. On average, equities analysts predict that Brookline Bancorp will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in BRKL. American Century Companies Inc. grew its stake in shares of Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank's stock worth $11,951,000 after purchasing an additional 249,113 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brookline Bancorp by 384.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank's stock valued at $599,000 after buying an additional 47,094 shares in the last quarter. Centiva Capital LP acquired a new stake in Brookline Bancorp during the 3rd quarter worth $432,000. Intech Investment Management LLC boosted its stake in Brookline Bancorp by 56.8% in the third quarter. Intech Investment Management LLC now owns 64,001 shares of the bank's stock valued at $646,000 after acquiring an additional 23,172 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Brookline Bancorp by 47.5% during the second quarter. AQR Capital Management LLC now owns 491,756 shares of the bank's stock worth $4,106,000 after purchasing an additional 158,329 shares in the last quarter. Hedge funds and other institutional investors own 78.91% of the company's stock.

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.