Brookline Bancorp (NASDAQ:BRKL) Upgraded at Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) was upgraded by equities researchers at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $14.50 price objective on the bank's stock, up from their prior price objective of $12.00. Keefe, Bruyette & Woods' target price would indicate a potential upside of 13.19% from the stock's current price.

Brookline Bancorp Trading Up 2.4 %

BRKL stock traded up $0.30 during trading on Wednesday, hitting $12.81. 599,714 shares of the company traded hands, compared to its average volume of 646,777. The firm has a market capitalization of $1.14 billion, a PE ratio of 15.07 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 has a 50-day moving average of $11.26 and a 200-day moving average of $10.03. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly 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. The business had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the prior year, the company posted $0.26 EPS. Analysts predict that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BRKL. Geode Capital Management LLC raised its position in shares of Brookline Bancorp by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank's stock worth $21,084,000 after acquiring an additional 26,714 shares in the last quarter. Barclays PLC grew its stake in shares of Brookline Bancorp by 99.8% in the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank's stock worth $2,149,000 after buying an additional 106,345 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Brookline Bancorp by 88.5% in the 3rd quarter. XTX Topco Ltd now owns 25,930 shares of the bank's stock worth $262,000 after buying an additional 12,173 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Brookline Bancorp in the 3rd quarter worth approximately $123,000. Finally, Jane Street Group LLC grew its stake in shares of Brookline Bancorp by 12.2% in the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank's stock worth $1,988,000 after buying an additional 21,394 shares during the last quarter. Institutional investors own 78.91% of the company's stock.

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.