Brookline Bancorp (NASDAQ:BRKL) Upgraded to "Strong-Buy" at Raymond James

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) was upgraded by Raymond James from a "market perform" rating to a "strong-buy" rating in a research report issued on Friday, Marketbeat Ratings reports. The firm currently has a $16.00 target price on the bank's stock. Raymond James' price target would indicate a potential upside of 34.00% from the company's current price.

Separately, Keefe, Bruyette & Woods raised shares of Brookline Bancorp from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $14.50 in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $14.17.

Brookline Bancorp Trading Up 3.6 %

Shares of NASDAQ:BRKL traded up $0.41 during trading hours on Friday, hitting $11.94. 2,609,571 shares of the company's stock traded hands, compared to its average volume of 548,026. The firm has a market capitalization of $1.06 billion, a P/E ratio of 14.39 and a beta of 0.78. The business has a fifty day moving average price of $11.88 and a 200-day moving average price of $10.32. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to analysts' expectations 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 previous year, the business earned $0.26 EPS. Equities analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current year.

Institutional Trading of Brookline Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank's stock valued at $6,484,000 after buying an additional 258,267 shares during the period. American Century Companies Inc. boosted its position in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank's stock valued at $11,951,000 after acquiring an additional 249,113 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank's stock valued at $4,106,000 after acquiring an additional 158,329 shares during the period. Inspire Advisors LLC bought a new position in shares of Brookline Bancorp in the 2nd quarter worth $1,298,000. Finally, Bank of Montreal Can purchased a new stake in shares of Brookline Bancorp during the 2nd quarter worth $1,042,000. 78.91% of the stock is currently owned by 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.