BTIM Corp. maintained its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the bank’s stock at the end of the second quarter. BTIM Corp.’s holdings in Brookline Bancorp were worth $146,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Brookline Bancorp by 49,990.5% in the first quarter. BlackRock Inc. now owns 8,736,778 shares of the bank’s stock valued at $136,731,000 after buying an additional 8,719,336 shares during the period. Norges Bank bought a new position in Brookline Bancorp during the fourth quarter valued at approximately $15,746,000. Monarch Partners Asset Management LLC acquired a new stake in Brookline Bancorp during the first quarter worth $4,921,000. Vanguard Group Inc. boosted its stake in Brookline Bancorp by 4.8% in the first quarter. Vanguard Group Inc. now owns 6,554,341 shares of the bank’s stock worth $102,576,000 after buying an additional 298,105 shares in the last quarter. Finally, State Street Corp boosted its stake in Brookline Bancorp by 11.4% in the first quarter. State Street Corp now owns 2,324,180 shares of the bank’s stock worth $36,377,000 after buying an additional 237,230 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.
Brookline Bancorp, Inc. (NASDAQ BRKL) traded up 0.182% during midday trading on Friday, hitting $13.775. The stock had a trading volume of 309,805 shares. The company has a 50-day moving average of $14.54 and a 200-day moving average of $14.84. Brookline Bancorp, Inc. has a 1-year low of $11.07 and a 1-year high of $17.45. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 17.890 and a beta of 0.97.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The business had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $58.08 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. Equities research analysts forecast that Brookline Bancorp, Inc. will post $0.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.36 annualized dividend and a yield of 2.61%. Brookline Bancorp’s payout ratio is 46.75%.
A number of equities research analysts recently weighed in on the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $15.00 price target on shares of Brookline Bancorp in a report on Friday, July 14th. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $17.00 to $16.50 in a report on Thursday, April 27th. Finally, BidaskClub cut Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th.
In related news, General Counsel Michael W. Mccurdy sold 4,895 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $14.20, for a total value of $69,509.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.85% of the stock is currently owned by company insiders.
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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