Brookline Bancorp (NASDAQ:BRKL) Research Coverage Started at StockNews.com

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

A number of other research firms have also issued reports on BRKL. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research 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 target price for the company. in a report on Tuesday, December 24th.

Brookline Bancorp Stock Up 0.9 %

NASDAQ BRKL opened at $9.89 on Thursday. The business has a fifty day moving average price of $10.92 and a 200 day moving average price of $11.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market cap of $889.70 million, a P/E ratio of 12.84 and a beta of 0.71. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, January 29th. The bank reported $0.23 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%. Research analysts anticipate that Brookline Bancorp will post 1.35 EPS for the current fiscal 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 dividend of $0.135 per share. The ex-dividend date was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.46%. Brookline Bancorp’s dividend payout ratio is currently 70.13%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its position in Brookline Bancorp by 16.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,994 shares of the bank’s stock valued at $207,000 after purchasing an additional 2,701 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Brookline Bancorp by 18.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 56,295 shares of the bank’s stock valued at $614,000 after buying an additional 8,905 shares during the period. GAMMA Investing LLC lifted its position in Brookline Bancorp by 920.9% in the first quarter. GAMMA Investing LLC now owns 14,497 shares of the bank’s stock valued at $158,000 after buying an additional 13,077 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Brookline Bancorp during the fourth quarter worth about $1,855,000. Finally, Pinney & Scofield Inc. purchased a new position in Brookline Bancorp during the fourth quarter worth about $35,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.