Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated at StockNews.com

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

Several other equities research analysts have also issued reports on the stock. Raymond James raised 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 research note on Friday, December 20th. Keefe, Bruyette & Woods lowered Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price objective on the stock. in a report on Tuesday, December 24th.

Brookline Bancorp Stock Performance

Shares of BRKL stock traded up $0.13 on Friday, hitting $11.73. The company had a trading volume of 427,607 shares, compared to its average volume of 491,803. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.05 billion, a P/E ratio of 14.13 and a beta of 0.78. The company has a 50-day moving average price of $12.14 and a 200-day moving average price of $10.56.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, equities research analysts predict that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.60%. Brookline Bancorp's dividend payout ratio is currently 65.06%.

Hedge Funds Weigh In On Brookline Bancorp

A number of hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Brookline Bancorp by 0.5% in the third quarter. State Street Corp now owns 4,129,487 shares of the bank's stock worth $41,667,000 after acquiring an additional 21,345 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Brookline Bancorp by 1.3% in 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 last quarter. American Century Companies Inc. lifted its stake in shares of Brookline Bancorp by 21.1% in the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank's stock worth $11,951,000 after buying an additional 249,113 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Brookline Bancorp by 4.9% in the second quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank's stock worth $10,587,000 after buying an additional 59,317 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Brookline Bancorp by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank's stock worth $9,868,000 after acquiring an additional 56,291 shares during the last quarter. Institutional investors and hedge funds 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.