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

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

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

Brookline Bancorp Stock Down 7.4 %

BRKL stock traded down $0.75 during trading on Wednesday, reaching $9.40. The stock had a trading volume of 188,987 shares, compared to its average volume of 576,103. The company has a market capitalization of $837.32 million, a P/E ratio of 12.13 and a beta of 0.71. Brookline Bancorp has a 1-year low of $8.01 and a 1-year 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. The firm has a fifty day moving average price of $11.30 and a 200 day moving average price of $11.49.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data 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%. On average, equities analysts anticipate that Brookline Bancorp will post 1.35 earnings per share for the current 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 issued a $0.135 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.54 annualized dividend and a dividend yield of 5.75%. Brookline Bancorp’s dividend payout ratio (DPR) is 70.13%.

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in shares of Brookline Bancorp by 805.4% in 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 in the last quarter. Versant Capital Management Inc increased its holdings 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 buying an additional 1,595 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Brookline Bancorp during the 4th quarter valued at $35,000. FMR LLC boosted its stake in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Brookline Bancorp in the 4th quarter worth $72,000. 78.91% of the stock is currently owned by institutional investors.

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.