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

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

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lowered 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 note 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 target on the stock in a report on Friday, December 20th.

Brookline Bancorp Price Performance

BRKL stock opened at $11.12 on Monday. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The business has a 50-day simple moving average of $11.73 and a two-hundred day simple moving average of $11.48. The company has a market capitalization of $990.85 million, a P/E ratio of 14.44 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. Research analysts expect that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in BRKL. Barclays PLC grew its holdings in shares of Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after purchasing an additional 106,345 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Brookline Bancorp by 12.2% during the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock valued at $1,988,000 after buying an additional 21,394 shares in the last quarter. Jennison Associates LLC grew its holdings in Brookline Bancorp by 7.7% in the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after purchasing an additional 224,888 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookline Bancorp by 384.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock worth $599,000 after buying an additional 47,094 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Brookline Bancorp by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock valued at $6,529,000 after purchasing an additional 338,050 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Company Profile

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.