StockNews.com Initiates Coverage on Brookline Bancorp (NASDAQ:BRKL)

StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL - Free Report) in a research note released on Thursday. The firm issued a hold rating on the bank's stock.

BRKL has been the subject of a number of other research reports. Raymond James upgraded Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price objective for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods cut Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price target for the company. in a research note on Tuesday, December 24th.

Brookline Bancorp Trading Up 3.3 %

Brookline Bancorp stock traded up $0.32 during trading hours on Thursday, reaching $10.07. 550,740 shares of the company's stock traded hands, compared to its average volume of 584,557. The firm has a market capitalization of $905.90 million, a price-to-earnings ratio of 13.08 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The firm's 50 day moving average is $10.82 and its 200-day moving average is $11.48.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share (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%. On average, analysts predict that Brookline Bancorp will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp's dividend payout ratio (DPR) is 70.13%.

Institutional Trading of Brookline Bancorp

Several hedge funds have recently added to or reduced their stakes in BRKL. Barclays PLC boosted its holdings in shares of Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank's stock valued at $2,149,000 after buying an additional 106,345 shares during the period. Jane Street Group LLC boosted its stake in Brookline Bancorp by 12.2% in the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank's stock worth $1,988,000 after purchasing an additional 21,394 shares during the period. Jennison Associates LLC boosted its stake in Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank's stock worth $36,974,000 after purchasing an additional 224,888 shares during the period. American Century Companies Inc. increased its holdings in Brookline Bancorp by 17.0% during the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock worth $22,465,000 after purchasing an additional 276,025 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Brookline Bancorp by 96.2% in the 4th quarter. Intech Investment Management LLC now owns 125,592 shares of the bank's stock valued at $1,482,000 after purchasing an additional 61,591 shares during the period. 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.