Brookline Bancorp (NASDAQ:BRKL) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Brookline Bancorp (NASDAQ:BRKL) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the bank’s stock.

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

Brookline Bancorp Stock Performance

Shares of BRKL opened at $12.29 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $12.07 and its two-hundred day simple moving average is $11.17. Brookline Bancorp has a 12 month low of $8.01 and a 12 month high of $13.15. The stock has a market capitalization of $1.10 billion, a P/E ratio of 15.96 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, analysts predict that Brookline Bancorp will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.39%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. World Investment Advisors acquired a new stake in shares of Brookline Bancorp in the 4th quarter worth about $323,000. Trexquant Investment LP increased its holdings in Brookline Bancorp by 13.5% during the 4th quarter. Trexquant Investment LP now owns 180,482 shares of the bank’s stock worth $2,130,000 after purchasing an additional 21,497 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Brookline Bancorp in the fourth quarter worth approximately $710,000. C M Bidwell & Associates Ltd. bought a new position in shares of Brookline Bancorp in the fourth quarter valued at approximately $72,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Brookline Bancorp by 44.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 508,027 shares of the bank’s stock valued at $5,995,000 after buying an additional 155,304 shares during the last quarter. Institutional investors and hedge funds 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.