Brookline Bancorp (NASDAQ:BRKL) Now Covered by Analysts at StockNews.com

StockNews.com started 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.

Brookline Bancorp Price Performance

Brookline Bancorp stock opened at $10.55 on Friday. The stock has a market cap of $949.08 million, a price-to-earnings ratio of 13.70 and a beta of 0.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 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. The firm has a 50-day moving average of $10.48 and a two-hundred day moving average of $11.51.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $91.49 million for the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, research analysts forecast that Brookline Bancorp will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.85%.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Brookline Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank’s stock valued at $112,937,000 after acquiring an additional 45,448 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Brookline Bancorp by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,255,331 shares of the bank’s stock worth $62,013,000 after acquiring an additional 100,610 shares during the last quarter. Jennison Associates LLC lifted its stake in Brookline Bancorp by 1.3% in the first quarter. Jennison Associates LLC now owns 3,174,794 shares of the bank’s stock worth $34,605,000 after acquiring an additional 41,429 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Brookline Bancorp by 17.0% during the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank’s stock worth $22,465,000 after buying an additional 276,025 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Brookline Bancorp by 62.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank’s stock worth $12,414,000 after buying an additional 404,897 shares during the last quarter. 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.