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

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

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods downgraded 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 research note on Tuesday, December 24th. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Friday, December 20th.

Brookline Bancorp Price Performance

Brookline Bancorp stock opened at $11.32 on Friday. The company’s 50 day moving average is $12.18 and its two-hundred day moving average is $10.68. The firm has a market cap of $1.01 billion, a PE ratio of 13.64 and a beta of 0.79. 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 has a 52-week low of $8.01 and a 52-week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period last year, the business posted $0.26 earnings per share. On average, research analysts expect that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRKL. Versant Capital Management Inc raised its stake in Brookline Bancorp by 124.2% during the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,595 shares during the last quarter. EMC Capital Management grew its position in Brookline Bancorp by 13.0% in the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock valued at $160,000 after buying an additional 1,819 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Brookline Bancorp by 5.2% in the 2nd 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 period. Captrust Financial Advisors raised its position in Brookline Bancorp by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 64,734 shares of the bank’s stock worth $653,000 after buying an additional 2,730 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of 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. Hedge funds and other 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.