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

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

Brookline Bancorp Stock Down 1.7 %

Shares of NASDAQ:BRKL opened at $10.26 on Friday. The company has a 50 day moving average price of $10.71 and a two-hundred day moving average price of $11.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market capitalization of $922.99 million, a PE ratio of 13.32 and a beta of 0.71. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15.

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

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 5.26%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 70.13%.

Hedge Funds Weigh In On Brookline Bancorp

A number of large investors have recently added to or reduced their stakes in BRKL. Invesco Ltd. boosted its position in shares of Brookline Bancorp by 118.8% during the fourth quarter. Invesco Ltd. now owns 1,041,930 shares of the bank’s stock worth $12,295,000 after buying an additional 565,719 shares during the period. Pentwater Capital Management LP bought a new stake in Brookline Bancorp in the 4th quarter valued at approximately $5,900,000. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 404,897 shares during the last quarter. AQR Arbitrage LLC bought a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $4,747,000. Finally, Curi RMB Capital LLC acquired a new stake in shares of Brookline Bancorp in the fourth quarter valued at approximately $3,540,000. Institutional investors 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.