StockNews.com Begins Coverage on Brookline Bancorp (NASDAQ:BRKL)

StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report released on Thursday. The brokerage set a “hold” rating on the bank’s stock.

BRKL has been the topic of a number of other reports. Raymond James raised shares of 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 note on Friday, December 20th. Keefe, Bruyette & Woods downgraded shares of 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.

Brookline Bancorp Trading Down 0.7 %

Shares of Brookline Bancorp stock opened at $12.12 on Thursday. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 15.74 and a beta of 0.79. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $12.02 and its 200-day moving average price is $11.24.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, equities analysts expect that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pinney & Scofield Inc. bought a new position in Brookline Bancorp during the fourth quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Brookline Bancorp by 9.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,355 shares of the bank’s stock worth $1,751,000 after purchasing an additional 12,454 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Brookline Bancorp in the fourth quarter worth approximately $756,000. WBI Investments LLC bought a new position in shares of Brookline Bancorp in the fourth quarter worth approximately $176,000. Finally, Two Sigma Advisers LP grew its holdings in shares of Brookline Bancorp by 4.4% in the fourth quarter. Two Sigma Advisers LP now owns 537,380 shares of the bank’s stock worth $6,341,000 after purchasing an additional 22,600 shares during 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.