Teachers Advisors LLC raised its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 981,943 shares of the bank’s stock after buying an additional 3,122 shares during the period. Teachers Advisors LLC owned approximately 1.39% of Brookline Bancorp worth $15,367,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in Brookline Bancorp by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 7,790 shares of the bank’s stock valued at $121,000 after buying an additional 160 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Brookline Bancorp during the first quarter valued at about $161,000. Airain ltd purchased a new stake in Brookline Bancorp during the first quarter valued at about $173,000. Eqis Capital Management Inc. purchased a new stake in Brookline Bancorp during the first quarter valued at about $213,000. Finally, OppenheimerFunds Inc. bought a new position in shares of Brookline Bancorp during the first quarter worth approximately $218,000. 71.92% of the stock is currently owned by institutional investors.
Shares of Brookline Bancorp, Inc. (NASDAQ BRKL) traded down 1.42% on Friday, reaching $13.90. The company had a trading volume of 362,296 shares. The company has a 50-day moving average price of $14.60 and a 200-day moving average price of $14.92. The firm has a market cap of $1.06 billion, a P/E ratio of 18.53 and a beta of 0.97. Brookline Bancorp, Inc. has a one year low of $11.07 and a one year high of $17.45.
Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $60.10 million during the quarter, compared to the consensus estimate of $58.08 million. Brookline Bancorp had a return on equity of 7.56% and a net margin of 19.64%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. On average, analysts expect that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.36 annualized dividend and a dividend yield of 2.59%. Brookline Bancorp’s dividend payout ratio is presently 46.75%.
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A number of research analysts recently commented on BRKL shares. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $17.00 to $16.50 in a research note on Thursday, April 27th. BidaskClub cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 price target on shares of Brookline Bancorp in a research note on Friday, July 14th.
In other news, General Counsel Michael W. Mccurdy sold 4,895 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $14.20, for a total value of $69,509.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.85% of the company’s stock.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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