Brookline Bancorp (NASDAQ:BRKL) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a report issued on Thursday. The brokerage issued a hold rating on the bank’s stock.

Several other research analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research note 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 for the company in a research report on Friday, December 20th.

Brookline Bancorp Stock Down 1.4 %

Shares of BRKL stock opened at $11.77 on Thursday. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.18 and a beta of 0.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50 day simple moving average is $12.04 and its 200 day simple moving average is $10.48. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15.

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

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Brookline Bancorp by 174.9% in 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 during the period. Creative Planning acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth about $103,000. Townsquare Capital LLC acquired a new stake in shares of Brookline Bancorp in the 3rd quarter valued at approximately $111,000. XTX Topco Ltd acquired a new position in shares of Brookline Bancorp during the 2nd quarter worth about $115,000. Finally, Point72 DIFC Ltd bought a new stake in Brookline Bancorp in the second quarter valued at approximately $116,000. Institutional investors 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.