Brookline Bancorp (NASDAQ:BRKL) Earns Hold Rating from Analysts at StockNews.com

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

Several other equities research analysts 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 price objective for the company. in a report on Tuesday. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Friday, December 20th.

Brookline Bancorp Trading Down 1.4 %

NASDAQ:BRKL opened at $11.77 on Thursday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 14.18 and a beta of 0.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average price is $12.04 and its 200-day moving average price is $10.46. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period in the prior year, the firm posted $0.26 EPS. On average, equities research analysts forecast that Brookline Bancorp will post 0.82 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. State Street Corp increased its position in Brookline Bancorp by 0.5% in the third quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock worth $41,667,000 after buying an additional 21,345 shares in the last quarter. Geode Capital Management LLC increased its holdings in Brookline Bancorp by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock worth $21,084,000 after acquiring an additional 26,714 shares in the last quarter. American Century Companies Inc. raised its stake in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after acquiring an additional 249,113 shares during the period. Renaissance Technologies LLC lifted its holdings in Brookline Bancorp by 4.9% during the second quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock valued at $10,587,000 after purchasing an additional 59,317 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Brookline Bancorp by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock valued at $9,868,000 after purchasing an additional 56,291 shares in the last quarter. 78.91% of the stock is currently owned by hedge funds and other 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.