StockNews.com assumed coverage on shares of Brookline Bancorp (NASDAQ:BRKL - Free Report) in a report issued on Sunday. The firm issued a hold rating on the bank's stock.
A number of other research firms have also recently commented on BRKL. Keefe, Bruyette & Woods cut 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 research note 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.
Read Our Latest Report on BRKL
Brookline Bancorp Trading Up 0.7 %
Shares of NASDAQ:BRKL traded up $0.08 during trading on Friday, hitting $12.00. The company had a trading volume of 420,101 shares, compared to its average volume of 878,047. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The company has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $10.83. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15.
Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the prior year, the firm posted $0.26 EPS. As a group, equities analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current year.
Brookline Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Friday, November 15th. Brookline Bancorp's payout ratio is presently 65.06%.
Institutional Trading of Brookline Bancorp
Several institutional investors and hedge funds have recently modified their holdings of BRKL. JPMorgan Chase & Co. lifted its stake in Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank's stock worth $6,529,000 after acquiring an additional 338,050 shares during the period. Assenagon Asset Management S.A. raised its holdings 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 in the last quarter. American Century Companies Inc. lifted its position 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 worth $11,951,000 after purchasing an additional 249,113 shares during the period. AQR Capital Management LLC boosted its stake in shares of Brookline Bancorp by 47.5% during the second 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, Bank of Montreal Can purchased a new position in Brookline Bancorp during the second quarter valued at approximately $1,042,000. Institutional investors own 78.91% of the company's stock.
About Brookline Bancorp
(
Get Free Report)
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.
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