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

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

Several other analysts have also recently commented on BRKL. Keefe, Bruyette & Woods cut 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. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Friday, December 20th.

Brookline Bancorp Stock Down 0.5 %

Shares of Brookline Bancorp stock opened at $11.02 on Friday. 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 business’s 50 day simple moving average is $11.90 and its 200-day simple moving average is $11.40. The stock has a market capitalization of $981.86 million, a price-to-earnings ratio of 14.31 and a beta of 0.78. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15.

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%. Equities research analysts forecast that Brookline Bancorp will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

Hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of Brookline Bancorp by 99.8% during the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank’s stock valued at $2,149,000 after purchasing an additional 106,345 shares during the period. Jane Street Group LLC increased its position in shares of Brookline Bancorp by 12.2% during the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock valued at $1,988,000 after purchasing an additional 21,394 shares during the period. Jennison Associates LLC increased its position in shares of Brookline Bancorp by 7.7% during the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock valued at $36,974,000 after purchasing an additional 224,888 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Brookline Bancorp by 384.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock valued at $599,000 after purchasing an additional 47,094 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Brookline Bancorp by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock valued at $6,529,000 after purchasing an additional 338,050 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.