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

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

A number of other analysts also recently issued reports on the company. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a research report 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 target for the company in a research note on Friday, December 20th.

Brookline Bancorp Stock Performance

Brookline Bancorp stock opened at $12.06 on Tuesday. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. 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 firm has a market capitalization of $1.07 billion, a PE ratio of 15.66 and a beta of 0.79. The firm’s 50 day simple moving average is $12.09 and its 200 day simple moving average is $11.07.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, analysts expect that Brookline Bancorp will post 1.09 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. Versant Capital Management Inc boosted its stake 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 valued at $34,000 after purchasing an additional 1,595 shares in the last quarter. FMR LLC boosted its position in Brookline Bancorp by 174.9% during the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after buying an additional 3,279 shares during the period. KBC Group NV grew its stake in shares of Brookline Bancorp by 60.3% during the fourth quarter. KBC Group NV now owns 6,438 shares of the bank’s stock valued at $76,000 after buying an additional 2,421 shares during the last quarter. Creative Planning purchased a new position in shares of Brookline Bancorp in the third quarter worth about $103,000. Finally, Townsquare Capital LLC bought a new stake in shares of Brookline Bancorp in the 3rd quarter valued at about $111,000. 78.91% of the stock is currently owned by 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.