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

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

Several other analysts also recently 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 price objective for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods cut shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a research report on Tuesday, December 24th.

Brookline Bancorp Stock Performance

Shares of BRKL stock opened at $10.95 on Friday. The firm has a fifty day moving average price of $11.78 and a 200 day moving average price of $11.45. The company has a market cap of $975.70 million, a P/E ratio of 14.22 and a beta of 0.78. Brookline Bancorp has a 12 month low of $8.01 and a 12 month high of $13.15. 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 (NASDAQ:BRKL) last issued its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. Sell-side analysts predict that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp’s dividend payout ratio is currently 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

A number of hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake 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 purchasing an additional 2,513 shares during the period. Versant Capital Management Inc boosted its stake in shares of Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after buying an additional 1,595 shares during the period. Pinney & Scofield Inc. acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth about $35,000. FMR LLC grew its holdings in shares of Brookline Bancorp by 174.9% during the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after buying an additional 3,279 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Brookline Bancorp in the 4th quarter valued at about $72,000. 78.91% of the stock is currently owned by hedge funds and other 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.