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

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

Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. 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 for the company in a report on Friday, December 20th.

Brookline Bancorp Stock Performance

NASDAQ:BRKL opened at $10.88 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The company has a 50 day simple moving average of $11.63 and a two-hundred day simple moving average of $11.52. The company has a market capitalization of $969.46 million, a PE ratio of 14.13 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last posted 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%. Research analysts anticipate that Brookline Bancorp will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business 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. This represents a $0.54 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Friday, February 14th. Brookline Bancorp’s payout ratio is 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors have recently made changes to their positions in BRKL. Invesco Ltd. grew its stake in shares of Brookline Bancorp by 118.8% in the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank’s stock valued at $12,295,000 after buying an additional 565,719 shares during the period. Pentwater Capital Management LP acquired a new stake in Brookline Bancorp in the fourth quarter valued at approximately $5,900,000. JPMorgan Chase & Co. increased its holdings in shares of Brookline Bancorp by 62.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 404,897 shares in the last quarter. AQR Arbitrage LLC bought a new stake in shares of Brookline Bancorp during the fourth quarter valued at approximately $4,747,000. Finally, Curi RMB Capital LLC acquired a new position in shares of Brookline Bancorp during the fourth quarter worth approximately $3,540,000. 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.