UPDATE: Stifel Nicolaus Resumes Hold on Brookline Bancorp

Stifel Nicolaus resumes its coverage on Brookline Bancorp BRKL with a Hold rating as the company appears to pick up the pace of its turnaround. Stifel Nicolaus notes, "Brookline appears to us as a classic case of taking what was a fairly sleepy traditional thrift, with a very conservative operating and credit history, and bringing more of a high performing bank approach to the business. We think Brookline's future financial performance will derive from the company more aggressively leveraging its strong market position in the greater Boston area, as well as Providence, Rhode Island (which was acquired through the acquisition of Bancorp Rhode Island which closed at the beginning of 1Q12)." BRKL closed at $8.93 on Monday.