Brookline Bancorp (NASDAQ:BRKL) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report issued on Thursday. The firm set a “hold” rating on the bank’s stock.

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

Brookline Bancorp Price Performance

BRKL opened at $11.96 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.07 billion, a P/E ratio of 14.41 and a beta of 0.78. The stock has a 50-day moving average price of $12.00 and a 200-day moving average price of $10.43. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS 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 firm had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the firm posted $0.26 earnings per share. Equities analysts predict that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Brookline Bancorp by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock valued at $9,868,000 after buying an additional 56,291 shares during the period. Crestwood Advisors Group LLC raised its position in shares of Brookline Bancorp by 164.6% in the 2nd quarter. Crestwood Advisors Group LLC now owns 32,149 shares of the bank’s stock worth $268,000 after acquiring an additional 20,000 shares in the last quarter. Princeton Capital Management LLC bought a new position in shares of Brookline Bancorp in the 2nd quarter worth approximately $150,000. CM Management LLC boosted its position in shares of Brookline Bancorp by 5.6% during the second quarter. CM Management LLC now owns 190,000 shares of the bank’s stock valued at $1,586,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Brookline Bancorp by 123.7% during the second quarter. Quest Partners LLC now owns 75,626 shares of the bank’s stock valued at $631,000 after purchasing an additional 41,826 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Company Profile

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.