Brookline Bancorp (NASDAQ:BRKL) Earns Hold Rating from Analysts at StockNews.com

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

A number of other equities research analysts also recently weighed in on BRKL. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a report on Tuesday, December 24th. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Friday, December 20th.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $11.77 on Thursday. The firm’s 50 day moving average is $12.04 and its two-hundred day moving average is $10.48. The firm has a market capitalization of $1.05 billion, a P/E ratio of 14.18 and a beta of 0.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same period in the previous year, the business earned $0.26 earnings per share. Analysts anticipate that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Institutional Investors Weigh In On Brookline Bancorp

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