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

by · The Markets Daily

Analysts at StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL – Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

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

Read Our Latest Stock Analysis on BRKL

Brookline Bancorp Price Performance

Shares of BRKL opened at $10.96 on Tuesday. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. The firm has a market capitalization of $976.59 million, a price-to-earnings ratio of 14.23 and a beta of 0.78. The stock’s fifty day moving average is $11.61 and its 200-day moving average is $11.52. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12.

Brookline Bancorp (NASDAQ:BRKL – Get Free Report) last announced its quarterly earnings data 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 net margin of 10.51% and a return on equity of 5.94%. Equities analysts anticipate that Brookline Bancorp will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC increased its holdings 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 period. Versant Capital Management Inc grew its position in Brookline Bancorp by 124.2% during 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 in the last quarter. Pinney & Scofield Inc. acquired a new position in Brookline Bancorp in the 4th quarter valued at approximately $35,000. FMR LLC lifted its position in Brookline Bancorp by 174.9% in the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after buying an additional 3,279 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Brookline Bancorp during the 4th quarter valued at $72,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Company Profile

(Get Free Report)

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.

Featured Stories