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

Research analysts at StockNews.com began 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 brokerages have also recently weighed in on BRKL. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective on the stock. in a 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 on the stock in a research note on Friday, December 20th.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $12.58 on Tuesday. The company’s fifty day moving average price is $12.08 and its 200-day moving average price is $11.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 16.34 and a beta of 0.79. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. On average, equities research analysts anticipate that Brookline Bancorp will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookline Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. boosted its stake in shares of Brookline Bancorp by 7.1% during the second quarter. Sei Investments Co. now owns 51,037 shares of the bank’s stock valued at $426,000 after purchasing an additional 3,397 shares during the period. Marshall Wace LLP bought a new stake in Brookline Bancorp during the 2nd quarter valued at $182,000. The Manufacturers Life Insurance Company boosted its position in Brookline Bancorp by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after buying an additional 2,002 shares during the period. SG Americas Securities LLC grew its holdings in Brookline Bancorp by 118.5% in the 3rd quarter. SG Americas Securities LLC now owns 26,779 shares of the bank’s stock worth $270,000 after acquiring an additional 14,521 shares during the last quarter. Finally, CWM LLC increased its position in shares of Brookline Bancorp by 143.7% in the third quarter. CWM LLC now owns 21,513 shares of the bank’s stock valued at $217,000 after acquiring an additional 12,686 shares during the period. 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.