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

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

Other equities research analysts have also recently issued research reports about the company. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price for the company 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 price objective for the company. in a research report on Tuesday, December 24th.

Brookline Bancorp Stock Up 0.9 %

Shares of Brookline Bancorp stock opened at $9.89 on Thursday. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The company has a 50 day moving average of $10.92 and a 200 day moving average of $11.48. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $889.70 million, a P/E ratio of 12.84 and a beta of 0.71.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, January 29th. The bank reported $0.23 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%. As a group, research analysts forecast that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Friday, February 14th. Brookline Bancorp’s payout ratio is currently 70.13%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRKL. Sterling Capital Management LLC grew its position in shares of Brookline Bancorp by 805.4% during the fourth 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 grew its position in Brookline Bancorp by 124.2% during the 4th 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 last quarter. Pinney & Scofield Inc. acquired a new position in Brookline Bancorp in the fourth quarter valued at $35,000. FMR LLC raised its holdings in shares of Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after buying an additional 3,279 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth about $72,000. 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.