Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report released on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Several other equities analysts have also issued reports on the company. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.17.

Brookline Bancorp Price Performance

Shares of BRKL opened at $11.96 on Thursday. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The firm’s 50-day simple moving average is $12.00 and its two-hundred day simple moving average is $10.43. The stock has a market cap of $1.07 billion, a PE ratio of 14.41 and a beta of 0.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.26 EPS. Analysts anticipate that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookline Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after purchasing an additional 3,279 shares during the period. Creative Planning bought a new stake in Brookline Bancorp during the third quarter valued at approximately $103,000. Townsquare Capital LLC bought a new stake in Brookline Bancorp during the third quarter valued at approximately $111,000. Alta Wealth Advisors LLC purchased a new stake in Brookline Bancorp during the third quarter valued at approximately $117,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Brookline Bancorp in the third quarter worth approximately $118,000. 78.91% of the stock is currently 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.