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

StockNews.com assumed coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the bank’s stock.

A number of other equities analysts also recently weighed in on the stock. Raymond James raised shares of 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. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a report on Tuesday, December 24th.

Brookline Bancorp Stock Up 3.0 %

BRKL stock opened at $11.19 on Monday. The firm has a market cap of $997.08 million, a PE ratio of 14.53 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 debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $11.74 and a 200 day simple moving average of $11.47.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) 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%. Equities research analysts forecast that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 yield of 4.83%. Brookline Bancorp’s dividend payout ratio (DPR) is 70.13%.

Institutional Trading of Brookline Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Brookline Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank’s stock worth $112,937,000 after buying an additional 45,448 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Brookline Bancorp by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,255,331 shares of the bank’s stock worth $62,013,000 after acquiring an additional 100,610 shares during the period. State Street Corp boosted its position in shares of Brookline Bancorp by 0.5% during the 3rd quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock valued at $41,667,000 after acquiring an additional 21,345 shares in the last quarter. Jennison Associates LLC boosted 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 acquiring an additional 224,888 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Brookline Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock valued at $21,084,000 after acquiring an additional 26,714 shares during the period. 78.91% of the stock is currently owned by 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.