Brookline Bancorp (NASDAQ:BRKL) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a note issued to investors on Saturday. The firm set a “hold” rating on the bank’s stock.

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

Brookline Bancorp Stock Performance

NASDAQ:BRKL opened at $11.32 on Friday. The firm’s fifty day simple moving average is $12.18 and its 200-day simple moving average is $10.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.01 billion, a PE ratio of 13.64 and a beta of 0.79. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its 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. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The company had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Brookline Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in Brookline Bancorp by 124.2% in the 4th 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 last quarter. EMC Capital Management grew its holdings in shares of Brookline Bancorp by 13.0% during the third quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock worth $160,000 after buying an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brookline Bancorp by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after buying an additional 2,002 shares during the last quarter. Captrust Financial Advisors boosted its position in Brookline Bancorp by 4.4% during the third quarter. Captrust Financial Advisors now owns 64,734 shares of the bank’s stock worth $653,000 after acquiring an additional 2,730 shares during the last quarter. Finally, FMR LLC grew its stake in Brookline Bancorp by 174.9% in the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares during the period. 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.