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

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

Several other equities research analysts also recently weighed in 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 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 for the company in a research report on Friday, December 20th.

Brookline Bancorp Trading Up 0.7 %

Shares of BRKL opened at $12.00 on Friday. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15. The firm has a market capitalization of $1.07 billion, a P/E ratio of 14.46 and a beta of 0.79. 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’s fifty day simple moving average is $12.18 and its 200 day simple moving average is $10.83.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.26 EPS. On average, equities research analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Brookline Bancorp

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in shares of Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after acquiring an additional 1,595 shares in the last quarter. FMR LLC raised its holdings in shares of 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 bought a new position in shares of Brookline Bancorp in the 3rd quarter worth about $103,000. Townsquare Capital LLC bought a new stake in shares of Brookline Bancorp during the 3rd quarter valued at about $111,000. Finally, Alta Wealth Advisors LLC acquired a new stake in Brookline Bancorp during the third quarter worth about $117,000. Institutional investors own 78.91% of the company’s stock.

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.