Massachusetts Financial Services Co. MA raised its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 20.4% in the 1st quarter, HoldingsChannel reports. The fund owned 779,145 shares of the bank’s stock after buying an additional 132,169 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Brookline Bancorp were worth $12,622,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. grew its position in shares of Brookline Bancorp by 5.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,024,839 shares of the bank’s stock worth $63,190,000 after buying an additional 210,941 shares during the period. Deutsche Bank AG grew its position in shares of Brookline Bancorp by 77.8% during the 4th quarter. Deutsche Bank AG now owns 201,582 shares of the bank’s stock worth $3,162,000 after buying an additional 88,206 shares during the period. BlackRock Inc. grew its position in shares of Brookline Bancorp by 2.7% during the 4th quarter. BlackRock Inc. now owns 9,902,830 shares of the bank’s stock worth $155,474,000 after buying an additional 260,424 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Brookline Bancorp during the 4th quarter worth approximately $232,000. Finally, Arizona State Retirement System grew its position in shares of Brookline Bancorp by 224.4% during the 4th quarter. Arizona State Retirement System now owns 128,832 shares of the bank’s stock worth $2,023,000 after buying an additional 89,113 shares during the period. Hedge funds and other institutional investors own 74.86% of the company’s stock.
In related news, insider Darryl J. Fess sold 20,000 shares of Brookline Bancorp stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $16.49, for a total transaction of $329,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Peck sold 10,000 shares of Brookline Bancorp stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $16.43, for a total transaction of $164,300.00. The disclosure for this sale can be found here. 2.51% of the stock is owned by company insiders.
Several brokerages have recently commented on BRKL. Zacks Investment Research upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, May 16th. BidaskClub upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Finally, ValuEngine upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.17.
Shares of NASDAQ:BRKL opened at $17.40 on Monday. Brookline Bancorp, Inc. has a one year low of $13.60 and a one year high of $17.85. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26. The company has a market cap of $1.40 billion, a PE ratio of 20.00 and a beta of 0.92.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, April 25th. The bank reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Brookline Bancorp had a net margin of 18.90% and a return on equity of 7.99%. The business had revenue of $65.66 million for the quarter. equities research analysts forecast that Brookline Bancorp, Inc. will post 1.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be paid a dividend of $0.10 per share. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, May 10th. This represents a $0.40 annualized dividend and a yield of 2.30%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 50.00%.
About Brookline Bancorp
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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