Brookline Bancorp (NASDAQ:BRKL) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report sent to investors on Sunday. The firm issued a hold rating on the bank’s stock.

Several other research firms also recently weighed in on BRKL. Keefe, Bruyette & Woods downgraded shares of 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, 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 for the company in a report on Friday, December 20th.

Brookline Bancorp Stock Performance

Shares of BRKL opened at $12.14 on Friday. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 14.63 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a fifty day moving average of $12.15 and a 200-day moving average of $10.90.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results 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 company had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, equities analysts anticipate that Brookline Bancorp will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Brookline Bancorp

A number of large investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Brookline Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock valued at $41,667,000 after purchasing an additional 21,345 shares during the period. Geode Capital Management LLC increased its holdings in shares of Brookline Bancorp by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock valued at $21,084,000 after purchasing an additional 26,714 shares during the period. American Century Companies Inc. increased its holdings in shares of Brookline Bancorp by 21.1% in the 2nd 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 period. Renaissance Technologies LLC increased its holdings in shares of Brookline Bancorp by 4.9% in the 2nd 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 during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Brookline Bancorp by 36.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock valued at $10,369,000 after purchasing an additional 236,066 shares during the period. Institutional investors and hedge funds own 78.91% of the company’s stock.

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.