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

Stock analysts at StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report issued on Friday. The brokerage set a “hold” rating on the bank’s stock.

Several other research firms have also recently commented on BRKL. Keefe, Bruyette & Woods cut 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, December 24th. Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Friday, December 20th.

Brookline Bancorp Trading Up 1.1 %

Shares of NASDAQ:BRKL opened at $11.73 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 14.13 and a beta of 0.79. Brookline Bancorp has a 12 month low of $8.01 and a 12 month high of $13.15. The company’s fifty day simple moving average is $12.16 and its 200 day simple moving average is $10.60. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm 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 last year, the business posted $0.26 EPS. As a group, research analysts forecast that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of Brookline Bancorp by 124.2% during the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after purchasing an additional 1,595 shares during the last quarter. FMR LLC grew its holdings in Brookline Bancorp by 174.9% during 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. Creative Planning acquired a new position in Brookline Bancorp during the third quarter worth approximately $103,000. Townsquare Capital LLC bought a new stake in Brookline Bancorp in the third quarter valued at approximately $111,000. Finally, XTX Topco Ltd acquired a new stake in shares of Brookline Bancorp in the second quarter valued at approximately $115,000. Institutional investors and hedge funds 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.