Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Brookline Bancorp (NASDAQ:BRKL - Get Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set a "hold" rating on the bank's stock.

Several other analysts have also recently commented on BRKL. Raymond James upgraded Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 target price on the stock in a report on Friday, December 20th. 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.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL traded down $0.14 during midday trading on Wednesday, hitting $12.18. The company's stock had a trading volume of 247,269 shares, compared to its average volume of 531,075. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The stock's 50 day simple moving average is $12.05 and its 200 day simple moving average is $11.20. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 15.82 and a beta of 0.79. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, research analysts anticipate that Brookline Bancorp will post 1.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. AQR Arbitrage LLC bought a new stake in shares of Brookline Bancorp during the fourth quarter worth approximately $4,747,000. Pentwater Capital Management LP bought a new position in Brookline Bancorp in the fourth quarter valued at approximately $5,900,000. AQR Capital Management LLC grew its holdings in Brookline Bancorp by 1.4% during the 4th quarter. AQR Capital Management LLC now owns 637,525 shares of the bank's stock worth $7,523,000 after acquiring an additional 8,814 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Brookline Bancorp during the 4th quarter valued at $129,000. Finally, Northern Trust Corp lifted its stake in Brookline Bancorp by 6.1% in the fourth quarter. Northern Trust Corp now owns 908,872 shares of the bank's stock valued at $10,725,000 after buying an additional 52,183 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.