Brookline Bancorp (NASDAQ:BRKL) Now Covered by StockNews.com

StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKLFree Report) in a research report sent to investors on Saturday 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 company. Raymond James upgraded 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 note on Friday, December 20th. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective on the stock. in a research report on Tuesday, December 24th.

Get Our Latest Stock Report on BRKL

Brookline Bancorp Stock Down 2.4 %

Brookline Bancorp stock opened at $11.32 on Friday. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50-day simple moving average is $12.18 and its 200 day simple moving average is $10.72. The stock has a market cap of $1.01 billion, a PE ratio of 13.64 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKLGet Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period in the prior year, the company posted $0.26 earnings per share. Research analysts predict that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Hedge Funds Weigh In On Brookline Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRKL. Versant Capital Management Inc raised its position in shares of Brookline Bancorp by 124.2% in the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,595 shares during the period. FMR LLC raised its holdings in Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after acquiring an additional 3,279 shares during the period. Creative Planning purchased a new stake in shares of Brookline Bancorp during the third quarter worth $103,000. Townsquare Capital LLC purchased a new stake in shares of Brookline Bancorp during the third quarter worth $111,000. Finally, XTX Topco Ltd purchased a new position in shares of Brookline Bancorp in the second quarter valued at $115,000. Institutional investors own 78.91% of the company’s stock.

About Brookline Bancorp

(Get Free Report)

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.

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