Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report issued on Saturday morning. The firm issued a hold rating on the bank’s stock.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut 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. 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.

Brookline Bancorp Price Performance

Shares of BRKL opened at $11.42 on Friday. Brookline Bancorp has a 12 month low of $8.01 and a 12 month high of $13.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $12.19 and a 200 day moving average price of $10.75. The company has a market cap of $1.02 billion, a P/E ratio of 13.76 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The business had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, research analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BRKL. State Street Corp boosted its stake in shares of Brookline Bancorp by 0.5% during the 3rd quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock worth $41,667,000 after acquiring an additional 21,345 shares in the last quarter. Geode Capital Management LLC boosted its position in Brookline Bancorp by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock worth $21,084,000 after purchasing an additional 26,714 shares during the period. American Century Companies Inc. grew its holdings in Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Brookline Bancorp by 4.9% in the second quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock valued at $10,587,000 after purchasing an additional 59,317 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Brookline Bancorp by 109.4% in 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 last quarter. Institutional investors and hedge funds 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.