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

Equities research analysts at StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

A number of other analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a report on Tuesday, December 24th. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Friday, December 20th.

Brookline Bancorp Price Performance

NASDAQ:BRKL opened at $10.90 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $11.65 and its 200 day moving average price is $11.52. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The firm has a market cap of $971.24 million, a P/E ratio of 14.16 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, sell-side analysts predict that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Brookline Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in Brookline Bancorp by 805.4% during the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock valued at $33,000 after acquiring an additional 2,513 shares during the period. Versant Capital Management Inc increased its position in shares of Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,595 shares during the period. Pinney & Scofield Inc. acquired a new position in shares of Brookline Bancorp in the fourth quarter valued at $35,000. FMR LLC lifted its position in Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after purchasing an additional 3,279 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Brookline Bancorp during the fourth quarter worth $72,000. Institutional investors own 78.91% of the company’s stock.

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.