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

Stock analysts at StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report issued on Monday. The brokerage set a “hold” rating on the bank’s stock.

Several other research analysts have also issued reports on BRKL. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note 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 for the company. in a report on Tuesday, December 24th.

Brookline Bancorp Stock Performance

Shares of BRKL stock opened at $12.08 on Monday. 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 firm has a fifty day moving average of $12.11 and a 200-day moving average of $11.01. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 14.55 and a beta of 0.79.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,595 shares during the period. FMR LLC lifted its position in Brookline Bancorp by 174.9% during the 3rd 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. KBC Group NV boosted its stake in shares of 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. Creative Planning acquired a new stake in shares of Brookline Bancorp during the 3rd quarter worth approximately $103,000. Finally, Townsquare Capital LLC bought a new stake in shares of Brookline Bancorp during the third quarter worth approximately $111,000. 78.91% of the stock is currently 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.