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

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

BRKL has been the subject of a number of other reports. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research 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 target price for the company in a research report on Friday, December 20th.

Brookline Bancorp Price Performance

BRKL stock opened at $12.00 on Friday. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. The firm has a 50-day moving average of $12.17 and a two-hundred day moving average of $10.87. The firm has a market capitalization of $1.07 billion, a PE ratio of 14.46 and a beta of 0.79. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly 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 business had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after purchasing an additional 338,050 shares during the period. Assenagon Asset Management S.A. grew its holdings in Brookline Bancorp by 67.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock valued at $6,484,000 after buying an additional 258,267 shares during the last quarter. American Century Companies Inc. increased its position in Brookline Bancorp by 21.1% during the second 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. AQR Capital Management LLC boosted its holdings in Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after purchasing an additional 158,329 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Brookline Bancorp in the 2nd quarter worth $1,042,000. 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.