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

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

A number of other brokerages 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 on the stock. in a research 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 BRKL stock traded up $0.04 during trading hours on Wednesday, hitting $9.57. 690,625 shares of the company's stock were exchanged, compared to its average volume of 580,732. The stock's 50-day moving average is $11.19 and its 200-day moving average is $11.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. 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 $860.92 million, a price-to-earnings ratio of 12.43 and a beta of 0.71.

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

Brookline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 5.64%. Brookline Bancorp's payout ratio is 70.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC increased its position 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 purchasing an additional 2,513 shares during the last quarter. Versant Capital Management Inc raised its stake in Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock worth $34,000 after purchasing an additional 1,595 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in Brookline Bancorp during the fourth quarter worth approximately $35,000. FMR LLC grew its holdings 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 in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Brookline Bancorp during the fourth quarter worth about $72,000. 78.91% of the stock is owned by institutional investors and hedge funds.

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.