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

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

A number of other research firms also recently commented on BRKL. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research report on Tuesday, December 24th. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th.

Brookline Bancorp Trading Down 0.5 %

Shares of Brookline Bancorp stock opened at $10.87 on Friday. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market capitalization of $968.57 million, a P/E ratio of 14.12 and a beta of 0.78. The company has a fifty day moving average of $11.79 and a 200 day moving average of $11.44.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share 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, sell-side analysts anticipate that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookline Bancorp

Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in shares of Brookline Bancorp by 805.4% in the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock valued at $33,000 after purchasing an additional 2,513 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 buying an additional 1,595 shares during the period. Pinney & Scofield Inc. bought a new stake in Brookline Bancorp in the fourth quarter worth $35,000. FMR LLC boosted its stake in 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 buying an additional 3,279 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in Brookline Bancorp during the fourth quarter valued at $72,000. 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.