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

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

Several other research analysts also recently commented on the company. Raymond James raised 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 price target on the stock. in a research report on Tuesday, December 24th.

Brookline Bancorp Price Performance

NASDAQ:BRKL opened at $12.00 on Friday. 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 company has a 50-day moving average of $12.17 and a 200-day moving average of $10.87. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $165.91 million during the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter last year, the company earned $0.26 earnings per share. As a group, equities research analysts anticipate that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its position in shares of Brookline Bancorp by 124.2% during the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after buying an additional 1,595 shares during the period. FMR LLC boosted its stake in Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares during the last quarter. Creative Planning acquired a new position in Brookline Bancorp during the third quarter valued at approximately $103,000. Townsquare Capital LLC bought a new stake in Brookline Bancorp in the third quarter valued at approximately $111,000. Finally, XTX Topco Ltd acquired a new stake in Brookline Bancorp in the second quarter worth $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.