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

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

Several other brokerages also recently weighed in on BRKL. Raymond James raised 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 report on Friday, December 20th. Keefe, Bruyette & Woods downgraded 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 Up 0.7 %

BRKL stock opened at $10.95 on Friday. The business’s 50-day moving average price is $11.78 and its 200-day moving average price is $11.45. The stock has a market cap of $975.70 million, a P/E ratio of 14.22 and a beta of 0.78. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. Brookline Bancorp has a twelve month low of $8.01 and a twelve month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released 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 return on equity of 5.94% and a net margin of 10.51%. On average, equities research analysts forecast that Brookline Bancorp will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

A number of large investors have recently made changes to their positions in BRKL. Wealth Enhancement Advisory Services LLC grew its position in shares of Brookline Bancorp by 39.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,293 shares of the bank’s stock worth $192,000 after buying an additional 4,612 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Brookline Bancorp during the 4th quarter valued at approximately $1,855,000. Pinney & Scofield Inc. purchased a new position in Brookline Bancorp in the 4th quarter worth $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Brookline Bancorp by 9.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,355 shares of the bank’s stock worth $1,751,000 after purchasing an additional 12,454 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Brookline Bancorp during the 4th quarter worth approximately $756,000. 78.91% of the stock is owned by hedge funds and other 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.