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

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

Other research analysts have also issued research reports about the stock. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research report on Tuesday, December 24th.

Brookline Bancorp Price Performance

BRKL opened at $11.80 on Friday. The stock has a fifty day moving average price of $11.97 and a 200 day moving average price of $11.34. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 15.32 and a beta of 0.79.

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

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, February 14th. Brookline Bancorp’s payout ratio is 70.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its position in Brookline Bancorp by 805.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock worth $33,000 after acquiring an additional 2,513 shares during the last quarter. Versant Capital Management Inc increased its stake 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 worth $34,000 after purchasing an additional 1,595 shares during the period. Pinney & Scofield Inc. acquired a new position in shares of Brookline Bancorp during the 4th quarter worth about $35,000. FMR LLC boosted its stake 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 purchasing an additional 3,279 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Brookline Bancorp in the 4th quarter valued at approximately $72,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.