Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated at Wall Street Zen

Wall Street Zen started coverage on shares of Brookline Bancorp (NASDAQ:BRKL - Free Report) in a report released on Monday morning. The firm issued a hold rating on the bank's stock.

Brookline Bancorp Price Performance

Shares of BRKL stock traded down $0.11 on Monday, hitting $10.35. 555,771 shares of the stock traded hands, compared to its average volume of 591,967. The firm has a market cap of $922.24 million, a price-to-earnings ratio of 13.44 and a beta of 0.88. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The firm has a 50 day simple moving average of $10.47 and a two-hundred day simple moving average of $11.47. 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 (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $91.49 million for the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, equities research analysts predict that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 5.22%. Brookline Bancorp's dividend payout ratio is currently 65.85%.

Institutional Trading of Brookline Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of BRKL. Citigroup Inc. increased its holdings in Brookline Bancorp by 157.0% in the 1st quarter. Citigroup Inc. now owns 1,968,304 shares of the bank's stock valued at $21,455,000 after acquiring an additional 1,202,542 shares during the last quarter. AQR Arbitrage LLC increased its holdings in Brookline Bancorp by 220.0% in the 1st quarter. AQR Arbitrage LLC now owns 1,287,231 shares of the bank's stock valued at $14,031,000 after acquiring an additional 884,937 shares during the last quarter. Invesco Ltd. increased its holdings in Brookline Bancorp by 118.8% in the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank's stock valued at $12,295,000 after acquiring an additional 565,719 shares during the last quarter. Pentwater Capital Management LP bought a new stake in Brookline Bancorp in the 4th quarter valued at $5,900,000. Finally, JPMorgan Chase & Co. increased its holdings in Brookline Bancorp by 62.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock valued at $12,414,000 after acquiring an additional 404,897 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors.

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.