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

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

Other research analysts have 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 price target for the company. in a research report on Tuesday, December 24th. Raymond James raised 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 Performance

NASDAQ:BRKL traded up $0.12 during mid-day trading on Monday, reaching $12.08. 562,917 shares of the company's stock were exchanged, compared to its average volume of 577,095. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. 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 business's fifty day simple moving average is $12.11 and its two-hundred day simple moving average is $10.99. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.55 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock worth $34,000 after acquiring an additional 1,595 shares in the last quarter. EMC Capital Management increased its position in Brookline Bancorp by 13.0% during the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank's stock worth $160,000 after purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Brookline Bancorp by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank's stock valued at $338,000 after purchasing an additional 2,002 shares during the last quarter. KBC Group NV lifted its stake in Brookline Bancorp by 60.3% in the 4th quarter. KBC Group NV now owns 6,438 shares of the bank's stock valued at $76,000 after purchasing an additional 2,421 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Brookline Bancorp by 4.4% in the third quarter. Captrust Financial Advisors now owns 64,734 shares of the bank's stock valued at $653,000 after buying an additional 2,730 shares in the last quarter. 78.91% of the stock is owned by institutional investors.

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.