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

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

Several other brokerages have also issued reports on BRKL. Raymond James upgraded 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. 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 research report on Tuesday, December 24th.

Brookline Bancorp Stock Up 1.1 %

Shares of BRKL stock opened at $11.73 on Friday. The stock has a 50 day moving average of $12.16 and a 200-day moving average of $10.60. The firm has a market cap of $1.05 billion, a PE ratio of 14.13 and a beta of 0.79. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp has a 12 month low of $8.01 and a 12 month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The firm had revenue of $165.91 million during the quarter, compared to analysts’ expectations of $88.67 million. During the same period in the prior year, the company earned $0.26 EPS. On average, equities analysts predict that Brookline Bancorp will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Brookline Bancorp by 99.8% during the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank’s stock valued at $2,149,000 after acquiring an additional 106,345 shares during the last quarter. American Century Companies Inc. increased its holdings in Brookline Bancorp by 21.1% in the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the last quarter. Jane Street Group LLC lifted its stake in Brookline Bancorp by 12.2% in the third quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock valued at $1,988,000 after buying an additional 21,394 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookline Bancorp by 384.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock valued at $599,000 after buying an additional 47,094 shares during the period. Finally, Centiva Capital LP bought a new position in Brookline Bancorp during the third quarter worth about $432,000. Institutional investors own 78.91% of the company’s stock.

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.