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

StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the bank’s stock.

Other equities research analysts also recently issued reports about the company. Raymond James raised 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. Keefe, Bruyette & Woods cut shares of 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.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $12.08 on Monday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 14.55 and a beta of 0.79. 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 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $12.11 and a 200 day simple moving average of $11.01.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its position in shares of Brookline Bancorp by 124.2% in the fourth 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 during the period. FMR LLC boosted its holdings 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 acquiring an additional 3,279 shares during the period. KBC Group NV grew its position in shares of Brookline Bancorp by 60.3% in the fourth quarter. KBC Group NV now owns 6,438 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,421 shares during the last quarter. Creative Planning bought 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 Brookline Bancorp during the 3rd quarter valued at approximately $111,000. 78.91% of the stock is 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.