Brookline Bancorp (NASDAQ:BRKL) Given New $11.00 Price Target at Keefe, Bruyette & Woods

Brookline Bancorp (NASDAQ:BRKL) had its target price lifted by Keefe, Bruyette & Woods from $10.50 to $11.00 in a research report released on Friday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Brookline Bancorp Stock Down 0.9 %

Shares of Brookline Bancorp stock opened at $10.41 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.11. Brookline Bancorp has a 52-week low of $7.93 and a 52-week high of $11.52. The company’s 50 day moving average price is $8.88 and its 200-day moving average price is $9.38. The stock has a market capitalization of $925.34 million, a price-to-earnings ratio of 11.19 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The business had revenue of $161.75 million during the quarter, compared to analysts’ expectations of $89.40 million. During the same quarter in the prior year, the company posted $0.26 EPS. Equities research analysts forecast that Brookline Bancorp will post 0.73 EPS for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.54 dividend on an annualized basis and a yield of 5.19%. Brookline Bancorp’s dividend payout ratio is presently 58.07%.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds have recently made changes to their positions in BRKL. Vanguard Group Inc. lifted its stake in Brookline Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank’s stock worth $101,049,000 after acquiring an additional 54,211 shares during the period. Dimensional Fund Advisors LP raised its holdings in Brookline Bancorp by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,008,133 shares of the bank’s stock worth $54,640,000 after purchasing an additional 37,879 shares in the last quarter. Jennison Associates LLC raised its holdings in Brookline Bancorp by 9.4% in the 1st quarter. Jennison Associates LLC now owns 4,917,763 shares of the bank’s stock worth $48,981,000 after purchasing an additional 424,115 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Brookline Bancorp by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock worth $9,868,000 after purchasing an additional 56,291 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Brookline Bancorp by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,091,845 shares of the bank’s stock valued at $11,912,000 after purchasing an additional 62,286 shares in the last quarter. 78.91% of the stock is 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.