Brookline Bancorp (NASDAQ:BRKL) PT Lowered to $10.50

Brookline Bancorp (NASDAQ:BRKL) had its price objective decreased by Keefe, Bruyette & Woods from $12.00 to $10.50 in a report issued on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other analysts have also recently weighed in on the company. StockNews.com raised Brookline Bancorp from a sell rating to a hold rating in a research report on Thursday, January 25th. Piper Sandler reiterated an overweight rating and issued a $12.00 price target on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $11.08.

Brookline Bancorp Trading Up 0.2 %

NASDAQ BRKL opened at $8.35 on Friday. The firm has a market cap of $748.54 million, a PE ratio of 8.98 and a beta of 0.75. Brookline Bancorp has a 52 week low of $7.00 and a 52 week high of $11.52. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. The company has a 50 day moving average price of $9.48 and a 200 day moving average price of $9.78.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 58.06%.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds have recently made changes to their positions in BRKL. Jennison Associates LLC lifted its holdings in shares of Brookline Bancorp by 199.0% during the third quarter. Jennison Associates LLC now owns 3,623,321 shares of the bank’s stock worth $33,008,000 after purchasing an additional 2,411,481 shares during the period. Assenagon Asset Management S.A. boosted its position in Brookline Bancorp by 1,699.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,217 shares of the bank’s stock worth $2,270,000 after purchasing an additional 235,366 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Brookline Bancorp in the fourth quarter valued at approximately $1,881,000. American Century Companies Inc. increased its position in shares of Brookline Bancorp by 13.2% in the third quarter. American Century Companies Inc. now owns 789,531 shares of the bank’s stock valued at $7,193,000 after buying an additional 92,291 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Brookline Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock worth $9,379,000 after buying an additional 63,039 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

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.