Brookline Bancorp (NASDAQ:BRKL) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research note issued to investors on Monday morning. The firm issued a hold rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the stock. Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research note on Tuesday, December 24th.

Brookline Bancorp Stock Up 0.2 %

Shares of NASDAQ:BRKL opened at $11.14 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $11.71 and a 200-day simple moving average of $11.48. The company has a market capitalization of $992.63 million, a PE ratio of 14.47 and a beta of 0.78. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15.

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

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.85%. Brookline Bancorp’s dividend payout ratio is currently 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Brookline Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank’s stock worth $112,937,000 after acquiring an additional 45,448 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Brookline Bancorp by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,255,331 shares of the bank’s stock worth $62,013,000 after purchasing an additional 100,610 shares in the last quarter. State Street Corp increased its holdings in shares of Brookline Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock valued at $41,667,000 after purchasing an additional 21,345 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock valued at $36,974,000 after purchasing an additional 224,888 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 buying an additional 26,714 shares in 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.