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

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

Several other equities research analysts have also commented on the company. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note 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 for the company. in a research note on Tuesday, December 24th.

Brookline Bancorp Trading Up 1.1 %

Shares of NASDAQ:BRKL opened at $11.73 on Friday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.13 and a beta of 0.79. The business’s 50 day moving average price is $12.16 and its 200-day moving average price is $10.62. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRKL. Versant Capital Management Inc grew its holdings in shares of Brookline Bancorp by 124.2% in the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,595 shares during the period. EMC Capital Management boosted its holdings in Brookline Bancorp by 13.0% in the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock valued at $160,000 after purchasing an additional 1,819 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Brookline Bancorp by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after buying an additional 2,002 shares during the period. Captrust Financial Advisors increased its holdings in shares of Brookline Bancorp by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 64,734 shares of the bank’s stock worth $653,000 after buying an additional 2,730 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after buying an additional 3,279 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Company Profile

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.