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

StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report released on Friday. The firm issued a hold rating on the bank’s stock.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a report on Tuesday, December 24th. Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Friday, December 20th.

Brookline Bancorp Price Performance

Brookline Bancorp stock opened at $11.73 on Friday. The company’s 50 day simple moving average is $12.16 and its 200-day simple moving average is $10.62. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.13 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 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 company had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities research analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 annualized dividend and a yield of 4.60%. Brookline Bancorp’s payout ratio is 65.06%.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Brookline Bancorp by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after buying an additional 338,050 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Brookline Bancorp by 67.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock valued at $6,484,000 after purchasing an additional 258,267 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Brookline Bancorp by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after purchasing an additional 158,329 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in shares of Brookline Bancorp during the 2nd quarter worth $1,298,000. Hedge funds and other 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.