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

StockNews.com assumed coverage on shares of Brookline Bancorp (NASDAQ:BRKL - Free Report) in a report issued on Tuesday. The firm issued a hold rating on the bank's stock.

A number of other research analysts have also weighed in on BRKL. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price target on the stock. in a research note on Tuesday, December 24th. Raymond James raised 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.

Brookline Bancorp Trading Down 2.8 %

NASDAQ BRKL traded down $0.28 on Tuesday, reaching $9.84. The company had a trading volume of 848,157 shares, compared to its average volume of 570,029. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The stock has a market cap of $876.79 million, a price-to-earnings ratio of 12.78 and a beta of 0.71. The stock's 50 day moving average is $11.53 and its 200-day moving average is $11.52.

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Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Equities analysts predict that Brookline Bancorp will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp's dividend payout ratio is presently 70.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its stake in shares of Brookline Bancorp by 805.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank's stock worth $33,000 after buying an additional 2,513 shares during the last quarter. Versant Capital Management Inc boosted its position in Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock valued at $34,000 after purchasing an additional 1,595 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Brookline Bancorp in the fourth quarter valued at approximately $35,000. FMR LLC increased its position in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank's stock worth $52,000 after purchasing an additional 3,279 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $72,000. 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.