Raymond James upgraded shares of Brookline Bancorp (NASDAQ:BRKL – Free Report) from a market perform rating to a strong-buy rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have $16.00 price target on the bank’s stock.
Separately, Keefe, Bruyette & Woods upgraded shares of Brookline Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $14.50 in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Brookline Bancorp presently has an average rating of “Buy” and an average price target of $14.17.
Check Out Our Latest Stock Report on BRKL
Brookline Bancorp Stock Up 3.6 %
Brookline Bancorp (NASDAQ:BRKL – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $165.91 million for 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 previous year, the company earned $0.26 EPS. Equities research analysts anticipate that Brookline Bancorp will post 0.82 EPS for the current fiscal year.
Brookline Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.135 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.52%. Brookline Bancorp’s dividend payout ratio is currently 65.06%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Brookline Bancorp by 21.1% in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Brookline Bancorp by 384.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock worth $599,000 after acquiring an additional 47,094 shares during the period. Centiva Capital LP acquired a new stake in shares of Brookline Bancorp in the third quarter worth approximately $432,000. Intech Investment Management LLC grew its holdings 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 purchasing an additional 23,172 shares during the period. Finally, AQR Capital Management LLC increased its position in 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 during the last quarter. 78.91% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Stories
- Five stocks we like better than Brookline Bancorp
- ETF Screener: Uses and Step-by-Step Guide
- Oil Titans Face Off: Exxon Mobil or Chevron for 2025 Gains?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Mining Stocks Back in the Spotlight: 3 Key Names to Watch
- There Are Different Types of Stock To Invest In
- MarketBeat Week in Review – 12/16 – 12/20
Receive News & Ratings for Brookline Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookline Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.