Keefe, Bruyette & Woods Sees Potential Long-Awaited Inflection Point For Brookline Bancorp

In a report published Wednesday, Keefe, Bruyette & Woods analyst Collyn Gilbert reiterated a Market Perform rating and $10.00 price target on Brookline Bancorp (NASDAQ: BRKL).

In the report, Keefe, Bruyette & Woods noted, “In the wake of BRKL's underperformance year to date, coupled with some fairly positive takeaways from a recent company visit, we are highlighting BRKL as part of KBW's "August Opportunities" series. In short, we believe BRKL could be at a long-awaited inflection point as it relates to its overall financial performance, as it appears as if expense growth should moderate while revenue growth accelerates. While we still believe BRKL needs to show bottom-line financial improvement, we are making the case that BRKL could make for a favorable near-term trading opportunity. Despite our short-term trading call, we are reiterating our Market Perform rating and our $10 PT.”

Brookline Bancorp closed on Tuesday at $9.04.