Brookline Bancorp (NASDAQ:BRKL - Get Free Report) was upgraded by equities research analysts at Raymond James from a "market perform" rating to a "strong-buy" rating in a research note issued on Friday,Finviz reports. The brokerage currently has a $16.00 price objective on the bank's stock. Raymond James' target price points to a potential upside of 38.77% from the stock's previous close.
Separately, Keefe, Bruyette & Woods raised Brookline Bancorp from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $12.00 to $14.50 in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $14.17.
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Shares of BRKL stock opened at $11.53 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The stock has a market capitalization of $1.03 billion, a P/E ratio of 13.89 and a beta of 0.78. The firm's 50 day moving average is $11.88 and its 200 day moving average is $10.32.
Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released 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. 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 for the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the business posted $0.26 EPS. Research analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. EMC Capital Management increased its holdings in Brookline Bancorp by 13.0% in the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank's stock worth $160,000 after acquiring an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Brookline Bancorp by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank's stock valued at $338,000 after purchasing an additional 2,002 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Brookline Bancorp by 4.4% in the third quarter. Captrust Financial Advisors now owns 64,734 shares of the bank's stock worth $653,000 after purchasing an additional 2,730 shares in the last quarter. FMR LLC raised its position in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank's stock valued at $52,000 after purchasing an additional 3,279 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Brookline Bancorp by 7.1% during the 2nd quarter. Sei Investments Co. now owns 51,037 shares of the bank's stock valued at $426,000 after buying an additional 3,397 shares in the last quarter. Institutional investors own 78.91% of the company's stock.
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.
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