1. Brookline Bancorp
Shares of Brookline Bancorp (BRKL) of Brookline, Mass., closed at $8.48 Friday, returning 3% year-to-date, following 19% decline during 2011.
The shares trade for 1.3 times tangible book value, and for 13 times the consensus 2013 EPS estimate of 67 cents.
With a quarterly payout of 8.5 cents, the shares have a dividend yield of 4.01%.
Brookline Bancorp had $5.1 billion in total assets as of Sept. 30. The company's pre-provision net revenue grew by 58% year-over-year to $19.8 million in the third quarter, as its net interest income increase by 68% to $46.4 million, mainly because of the acquisition of Bancorp of Rhode Island in January. The net interest margin widened to 4.00% in the third quarter, from 3.68% a year earlier.The company's noninterest income increased to $3.8 million in the third quarter from $928 million a year earlier. Noninterest expense nearly doubled, to $30.4 million. Brookline reported third-quarter earnings of $11.4 million, or 16 cents a share, increasing from $6.3 million, or 11 cents a share, a year earlier. The third-quarter ROA was 0.90% and the return on average equity was 7.53%. KBW analyst Damon DelMonte rates Brookline Bancorp "Market Perform," with a $9.00 price target, and said on Oct. 24 after the earnings announcement that "BRKL posted a solid quarter as the bank's bottom line benefited mainly from liquidity deployment into loans and securities and a lower tax rate from federal tax credits, both of which were somewhat offset by higher expenses across the board." DelMonte added that the company's core net interest margin "expansion was closer to 5bps as the reported NIM benefited from 14bps, or $1.4mm, of yield adjustments on the bank's acquired loan portfolio" from the Bancorp of Rhode Island acquisition. DelMonte estimates that Brookline Bancorp will earn 65 cents a share during 2013. BRKL data by YCharts
Interested in more on Brookline Bancorp? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV