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

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

A number of other brokerages have also recently issued reports on BRKL. Keefe, Bruyette & Woods cut shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a research 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 on the stock in a research note on Friday, December 20th.

Brookline Bancorp Stock Up 0.9 %

NASDAQ BRKL opened at $11.80 on Friday. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average is $11.97 and its two-hundred day moving average is $11.34. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 15.32 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share 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 forecast that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.135 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.58%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning bought a new position in shares of Brookline Bancorp in the third quarter worth about $103,000. Wealth Enhancement Advisory Services LLC bought a new position in Brookline Bancorp in the 3rd quarter worth approximately $118,000. Pinnacle Associates Ltd. acquired a new position in Brookline Bancorp during the 3rd quarter worth $222,000. EMC Capital Management boosted its position in Brookline Bancorp by 13.0% in the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock valued at $160,000 after buying an additional 1,819 shares during the last quarter. Finally, Olympiad Research LP bought a new position in Brookline Bancorp in the 3rd quarter valued at $153,000. Institutional investors and hedge funds 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.