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

StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report released on Monday morning. The brokerage issued a hold rating on the bank’s stock.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a research note on Tuesday, December 24th. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Friday, December 20th.

Brookline Bancorp Stock Down 0.2 %

Shares of BRKL opened at $12.05 on Monday. The business’s 50 day simple moving average is $12.11 and its 200-day simple moving average is $11.02. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. The company has a market capitalization of $1.07 billion, a P/E ratio of 14.52 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. As a group, sell-side analysts predict that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in shares of Brookline Bancorp by 0.5% during 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 during the last quarter. Jennison Associates LLC grew its holdings in Brookline Bancorp by 7.7% during the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after acquiring an additional 224,888 shares during the period. Geode Capital Management LLC raised its position in shares of Brookline Bancorp by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock valued at $21,084,000 after acquiring an additional 26,714 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake 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. Finally, JPMorgan Chase & Co. boosted its position in shares of Brookline Bancorp by 109.4% in the 3rd 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 last quarter. Institutional investors 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.