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 published on Saturday. 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 upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a report on Tuesday, December 24th.

Brookline Bancorp Stock Up 0.9 %

Shares of NASDAQ:BRKL opened at $11.42 on Friday. The stock has a 50-day simple moving average of $12.19 and a 200-day simple moving average of $10.75. The stock has a market capitalization of $1.02 billion, a P/E ratio of 13.76 and a beta of 0.79. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The company had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities analysts forecast that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.73%. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Texas Permanent School Fund Corp increased its holdings in Brookline Bancorp by 38.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 107,343 shares of the bank’s stock worth $896,000 after purchasing an additional 29,568 shares during the last quarter. American Century Companies Inc. grew its holdings in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after acquiring an additional 249,113 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Brookline Bancorp in the 2nd quarter worth about $1,298,000. Renaissance Technologies LLC raised its stake in shares of Brookline Bancorp by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock valued at $10,587,000 after purchasing an additional 59,317 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Brookline Bancorp during the second quarter worth about $115,000. 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.