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

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

Brookline Bancorp Stock Performance

NASDAQ BRKL opened at $10.44 on Friday. The stock has a market capitalization of $939.18 million, a PE ratio of 13.56 and a beta of 0.71. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. The business has a 50 day simple moving average of $10.75 and a two-hundred day simple moving average of $11.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $91.49 million during the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, research analysts predict that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookline Bancorp

Several large investors have recently added to or reduced their stakes in BRKL. Barclays PLC boosted its holdings in shares of Brookline Bancorp by 99.8% in the 3rd 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 period. Geode Capital Management LLC lifted its position in Brookline Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock worth $21,084,000 after buying an additional 26,714 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Brookline Bancorp by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after buying an additional 338,050 shares during the period. Versant Capital Management Inc increased its position in 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 last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Brookline Bancorp by 36.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock valued at $10,369,000 after acquiring an additional 236,066 shares during the period. 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.