State Street Corp boosted its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 11.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,579,882 shares of the bank’s stock after purchasing an additional 255,702 shares during the quarter. State Street Corp owned approximately 3.37% of Brookline Bancorp worth $37,666,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of BRKL. Amalgamated Bank acquired a new stake in shares of Brookline Bancorp in the 2nd quarter valued at about $150,000. Alpine Woods Capital Investors LLC boosted its position in shares of Brookline Bancorp by 20.0% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after purchasing an additional 2,000 shares during the period. Virtu KCG Holdings LLC acquired a new stake in Brookline Bancorp during the 2nd quarter worth approximately $176,000. Victory Capital Management Inc. lifted its position in Brookline Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock worth $177,000 after acquiring an additional 1,819 shares during the period. Finally, Eqis Capital Management Inc. lifted its position in Brookline Bancorp by 5.4% during the 2nd quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock worth $209,000 after acquiring an additional 738 shares during the period. Institutional investors own 76.53% of the company’s stock.
In other news, Director David C. Chapin sold 5,000 shares of Brookline Bancorp stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $14.70, for a total transaction of $73,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Perrault sold 103,255 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total value of $1,516,815.95. Following the completion of the sale, the chief executive officer now directly owns 421,122 shares of the company’s stock, valued at $6,186,282.18. The disclosure for this sale can be found here. Insiders sold 110,255 shares of company stock worth $1,620,316 over the last three months. 2.85% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on BRKL shares. Sandler O’Neill downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. BidaskClub raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.83.
Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at $15.05 on Friday. Brookline Bancorp, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.45. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $1,142.12, a price-to-earnings ratio of 19.10 and a beta of 0.96.
Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 18th. The bank reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. The firm had revenue of $62.82 million for the quarter, compared to analysts’ expectations of $60.37 million. During the same quarter last year, the firm earned $0.19 earnings per share. research analysts expect that Brookline Bancorp, Inc. will post 0.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 2nd. Brookline Bancorp’s dividend payout ratio (DPR) is presently 46.15%.
About Brookline Bancorp
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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