Brookline Bancorp (NASDAQ:BRKL) Earns Overweight Rating from Piper Sandler

Brookline Bancorp (NASDAQ:BRKL)‘s stock had its “overweight” rating reiterated by Piper Sandler in a report released on Wednesday, Benzinga reports. They presently have a $12.00 target price on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 20.48% from the company’s previous close.

BRKL has been the topic of a number of other research reports. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. TheStreet raised shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.92.

Brookline Bancorp Stock Up 2.2 %

BRKL stock opened at $9.96 on Wednesday. The stock has a market capitalization of $885.34 million, a P/E ratio of 11.58 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. Brookline Bancorp has a one year low of $7.00 and a one year high of $11.52. The company has a 50 day moving average price of $10.02 and a two-hundred day moving average price of $9.74.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $160.35 million during the quarter, compared to analysts’ expectations of $89.38 million. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. During the same period in the previous year, the company earned $0.39 EPS. As a group, sell-side analysts expect that Brookline Bancorp will post 0.97 EPS for the current year.

Institutional Trading of Brookline Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Brookline Bancorp by 16.6% in the 1st quarter. BlackRock Inc. now owns 13,012,406 shares of the bank’s stock valued at $136,630,000 after acquiring an additional 1,848,069 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Brookline Bancorp by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after purchasing an additional 32,790 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Brookline Bancorp by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,712,823 shares of the bank’s stock valued at $59,984,000 after buying an additional 371,124 shares during the last quarter. Jennison Associates LLC grew its stake in Brookline Bancorp by 24.0% in the 4th quarter. Jennison Associates LLC now owns 4,493,648 shares of the bank’s stock valued at $49,026,000 after buying an additional 870,327 shares during the last quarter. Finally, State Street Corp boosted its holdings in Brookline Bancorp by 2.1% in the 2nd quarter. State Street Corp now owns 4,419,473 shares of the bank’s stock valued at $38,626,000 after purchasing an additional 91,660 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

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.