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

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

Several other brokerages have also commented on BRKL. 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 research note on Tuesday, December 24th. Raymond James raised 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.

Brookline Bancorp Price Performance

Shares of BRKL stock opened at $11.66 on Thursday. The stock’s fifty day simple moving average is $11.99 and its 200 day simple moving average is $11.27. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 15.14 and a beta of 0.79. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly 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%. On average, analysts expect that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, February 14th. Brookline Bancorp’s dividend payout ratio is currently 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in Brookline Bancorp by 805.4% in the fourth 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 boosted its stake in 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 in the last quarter. Pinney & Scofield Inc. acquired a new position in Brookline Bancorp in the fourth quarter worth $35,000. FMR LLC boosted its stake in Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after purchasing an additional 3,279 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Brookline Bancorp in the fourth quarter worth $72,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

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.