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

StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report released on Friday. The brokerage issued a hold rating on the bank’s stock.

Several other analysts have also weighed in on BRKL. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research 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 on the stock. in a report on Tuesday, December 24th.

Brookline Bancorp Stock Up 1.1 %

BRKL stock opened at $11.73 on Friday. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.05 billion, a PE ratio of 14.13 and a beta of 0.78. The business’s 50-day simple moving average is $12.16 and its 200 day simple moving average is $10.58.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $88.67 million. During the same period in the prior year, the company posted $0.26 earnings per share. On average, research analysts anticipate that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Institutional Trading of 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 acquiring an additional 106,345 shares in the last quarter. American Century Companies Inc. boosted its stake in Brookline Bancorp by 21.1% in the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after purchasing an additional 249,113 shares in the last quarter. Jane Street Group LLC increased its position in Brookline Bancorp by 12.2% in the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock valued at $1,988,000 after acquiring an additional 21,394 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Brookline Bancorp by 384.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock valued at $599,000 after purchasing an additional 47,094 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Brookline Bancorp during the third quarter worth $432,000. 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.