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

StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research note issued to investors on Saturday. The firm set a “hold” rating on the bank’s stock.

Other analysts have also issued research reports about the stock. Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research 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 price objective for the company. in a research note on Tuesday, December 24th.

Brookline Bancorp Price Performance

BRKL stock opened at $11.32 on Friday. The stock has a 50-day moving average price of $12.18 and a two-hundred day moving average price of $10.73. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The stock has a market cap of $1.01 billion, a PE ratio of 13.64 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 announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter last year, the firm earned $0.26 EPS. Equities analysts forecast that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Institutional Trading of Brookline Bancorp

A number of large investors have recently added to or reduced their stakes in BRKL. Texas Permanent School Fund Corp increased its stake in shares of Brookline Bancorp by 38.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 107,343 shares of the bank’s stock worth $896,000 after purchasing an additional 29,568 shares during the last quarter. American Century Companies Inc. grew its holdings 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 purchasing an additional 249,113 shares during the period. Inspire Advisors LLC acquired a new position in Brookline Bancorp during the second quarter worth approximately $1,298,000. Renaissance Technologies LLC raised its stake in Brookline Bancorp by 4.9% in the second quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock valued at $10,587,000 after buying an additional 59,317 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Brookline Bancorp in the second quarter valued at 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.