Northern Trust Corp increased its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,474,040 shares of the bank’s stock after buying an additional 7,753 shares during the period. Northern Trust Corp owned about 1.84% of Brookline Bancorp worth $23,880,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Eaton Vance Management purchased a new stake in Brookline Bancorp during the 1st quarter worth $185,000. Ellington Management Group LLC acquired a new position in Brookline Bancorp during the 4th quarter worth $185,000. Xact Kapitalforvaltning AB acquired a new position in Brookline Bancorp during the 4th quarter worth $232,000. Stone Ridge Asset Management LLC acquired a new position in Brookline Bancorp during the 4th quarter worth $276,000. Finally, Victory Capital Management Inc. grew its holdings in Brookline Bancorp by 51.6% during the 1st quarter. Victory Capital Management Inc. now owns 23,847 shares of the bank’s stock worth $386,000 after acquiring an additional 8,112 shares in the last quarter. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
In other news, General Counsel Michael W. Mccurdy sold 5,188 shares of Brookline Bancorp stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $17.45, for a total value of $90,530.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.51% of the company’s stock.
Shares of Brookline Bancorp opened at $19.25 on Friday, Marketbeat reports. Brookline Bancorp, Inc. has a 1-year low of $13.60 and a 1-year high of $19.35. 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 firm has a market cap of $1.54 billion, a price-to-earnings ratio of 24.06 and a beta of 0.94.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, April 25th. The bank reported $0.24 EPS for the quarter, meeting the Thomson Reuters’ 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 during the quarter. equities analysts forecast that Brookline Bancorp, Inc. will post 1.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Friday, May 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 10th. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. Brookline Bancorp’s payout ratio is 50.00%.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Monday, June 18th. BidaskClub raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a report on Friday, May 25th. Finally, ValuEngine raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $17.83.
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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