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

Research analysts at StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL - Get Free Report) in a note issued to investors on Saturday. The firm set a "hold" rating on the bank's stock.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price 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 price objective for the company in a report on Friday, December 20th.

Brookline Bancorp Stock Down 2.4 %

Shares of NASDAQ BRKL traded down $0.28 during midday trading on Friday, reaching $11.32. 826,687 shares of the company's stock were exchanged, compared to its average volume of 649,081. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The business's fifty day moving average price is $12.18 and its two-hundred day moving average price is $10.72. The stock has a market capitalization of $1.01 billion, a PE ratio of 13.64 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The company had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same period in the previous year, the business earned $0.26 EPS. Analysts forecast that Brookline Bancorp will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of BRKL. Versant Capital Management Inc lifted its position in Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock valued at $34,000 after purchasing an additional 1,595 shares during the last quarter. FMR LLC increased its stake in shares of Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank's stock valued at $52,000 after purchasing an additional 3,279 shares during the period. Creative Planning bought a new stake in shares of Brookline Bancorp during the third quarter valued at approximately $103,000. Townsquare Capital LLC acquired a new position in shares of Brookline Bancorp during the third quarter worth approximately $111,000. Finally, XTX Topco Ltd bought a new position in Brookline Bancorp in the 2nd quarter worth approximately $115,000. Institutional investors and hedge funds 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.