Polaris Capital Management LLC trimmed its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 95.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,146 shares of the bank’s stock after selling 1,069,146 shares during the period. Polaris Capital Management LLC owned about 0.07% of Brookline Bancorp worth $2,393,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Brookline Bancorp by 11.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 327,218 shares of the bank’s stock valued at $4,778,000 after buying an additional 32,426 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Brookline Bancorp by 3.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 377,430 shares of the bank’s stock valued at $5,510,000 after buying an additional 11,225 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of Brookline Bancorp by 0.8% during the 2nd quarter. Nationwide Fund Advisors now owns 116,690 shares of the bank’s stock valued at $1,704,000 after buying an additional 875 shares in the last quarter. BlackRock Inc. lifted its position in shares of Brookline Bancorp by 6.5% during the 2nd quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock valued at $135,794,000 after buying an additional 564,134 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Brookline Bancorp during the 2nd quarter valued at about $150,000. 76.60% of the stock is currently owned by institutional investors and hedge funds.
BRKL has been the topic of several recent analyst reports. Piper Jaffray Companies reissued a “hold” rating and set a $16.50 target price on shares of Brookline Bancorp in a research note on Tuesday, January 9th. BidaskClub downgraded Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th.
Shares of Brookline Bancorp, Inc. (NASDAQ BRKL) opened at $16.50 on Friday. The stock has a market capitalization of $1,264.84, a P/E ratio of 20.63 and a beta of 0.95. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.26. Brookline Bancorp, Inc. has a 12 month low of $13.60 and a 12 month high of $17.05.
Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, January 31st. The bank reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $63.47 million for the quarter, compared to the consensus estimate of $61.22 million. Brookline Bancorp had a return on equity of 7.58% and a net margin of 17.11%. During the same quarter in the previous year, the company posted $0.19 EPS. sell-side analysts expect that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, February 15th. Brookline Bancorp’s payout ratio is currently 52.94%.
In other Brookline Bancorp news, insider M Robert Rose sold 12,500 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $16.07, for a total value of $200,875.00. Following the completion of the sale, the insider now directly owns 35,277 shares in the company, valued at approximately $566,901.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Hackett sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $16.25, for a total value of $81,250.00. Following the completion of the sale, the director now owns 31,500 shares of the company’s stock, valued at $511,875. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,500 shares of company stock valued at $808,830. 2.85% of the stock is owned by company insiders.
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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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