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

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

Brookline Bancorp Stock Performance

Brookline Bancorp stock opened at $10.76 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The firm’s fifty day moving average price is $10.56 and its 200 day moving average price is $11.51. The company has a market capitalization of $967.97 million, a price-to-earnings ratio of 13.97 and a beta of 0.88. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. The business had revenue of $91.49 million during the quarter, compared to analyst estimates of $91.38 million. On average, research analysts forecast that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 5.02%. Brookline Bancorp’s payout ratio is 65.85%.

Institutional Trading of Brookline Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of BRKL. Commonwealth Equity Services LLC increased its holdings in shares of Brookline Bancorp by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 57,132 shares of the bank’s stock valued at $674,000 after acquiring an additional 811 shares during the last quarter. LPL Financial LLC boosted its holdings in Brookline Bancorp by 3.2% in the fourth quarter. LPL Financial LLC now owns 43,073 shares of the bank’s stock worth $508,000 after purchasing an additional 1,323 shares during the period. Illinois Municipal Retirement Fund increased its stake in Brookline Bancorp by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank’s stock valued at $536,000 after purchasing an additional 1,573 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Brookline Bancorp by 124.2% during the fourth 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 during the period. Finally, WASHINGTON TRUST Co lifted its position in shares of Brookline Bancorp by 5.9% in the 1st quarter. WASHINGTON TRUST Co now owns 33,396 shares of the bank’s stock worth $364,000 after buying an additional 1,857 shares during the last quarter. 78.91% of the stock is owned by institutional investors.

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.