Rhumbline Advisers boosted its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 15.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 180,163 shares of the bank’s stock after purchasing an additional 23,433 shares during the quarter. Rhumbline Advisers’ holdings in Brookline Bancorp were worth $2,829,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. California Public Employees Retirement System increased its stake in Brookline Bancorp by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 358,649 shares of the bank’s stock worth $5,631,000 after buying an additional 3,852 shares in the last quarter. Principal Financial Group Inc. increased its stake in Brookline Bancorp by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 615,505 shares of the bank’s stock worth $9,540,000 after buying an additional 7,186 shares in the last quarter. Nationwide Fund Advisors increased its stake in Brookline Bancorp by 6.4% in the 3rd quarter. Nationwide Fund Advisors now owns 124,141 shares of the bank’s stock worth $1,924,000 after buying an additional 7,451 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Brookline Bancorp by 8.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 105,252 shares of the bank’s stock worth $1,632,000 after buying an additional 8,131 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Brookline Bancorp by 1.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 492,650 shares of the bank’s stock worth $7,709,000 after buying an additional 8,394 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.
BRKL has been the subject of a number of analyst reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $16.50 price target on shares of Brookline Bancorp in a research note on Tuesday, January 9th. ValuEngine upgraded Brookline Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, BidaskClub lowered Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.33.
Brookline Bancorp, Inc. (NASDAQ BRKL) opened at $17.05 on Friday. The firm has a market capitalization of $1,309.90, a PE ratio of 25.07 and a beta of 0.91. The company has a current ratio of 1.16, a quick 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 $17.20.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $63.47 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.19 earnings per share. sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.11%. Brookline Bancorp’s payout ratio is 52.94%.
In other news, COO James M. Cosman sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $16.76, for a total transaction of $209,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darryl J. Fess sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $16.49, for a total value of $329,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,500 shares of company stock valued at $784,850. Company insiders own 2.85% of the company’s stock.
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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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