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

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

BRKL has been the subject of a number of other research reports. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a research note on Tuesday. Raymond James upgraded shares of 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 report on Friday, December 20th.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL opened at $11.94 on Thursday. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The company’s 50 day moving average price is $12.02 and its two-hundred day moving average price is $10.44. The firm has a market cap of $1.06 billion, a PE ratio of 14.39 and a beta of 0.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The business had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. Equities research analysts predict that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings 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 last quarter. Geode Capital Management LLC lifted its stake in Brookline Bancorp by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock valued at $21,084,000 after purchasing an additional 26,714 shares during the last quarter. Barclays PLC boosted its position in Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock valued at $2,149,000 after buying an additional 106,345 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Brookline Bancorp by 88.5% during the third quarter. XTX Topco Ltd now owns 25,930 shares of the bank’s stock worth $262,000 after buying an additional 12,173 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Brookline Bancorp during the third quarter worth $123,000. Institutional investors 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.