Renaissance Technologies LLC raised its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 16.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,467,700 shares of the bank’s stock after purchasing an additional 210,900 shares during the quarter. Renaissance Technologies LLC owned 1.92% of Brookline Bancorp worth $21,428,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of BRKL. Amalgamated Bank purchased a new stake in shares of Brookline Bancorp in the second quarter worth approximately $150,000. Victory Capital Management Inc. purchased a new stake in shares of Brookline Bancorp in the first quarter worth approximately $161,000. Alpine Woods Capital Investors LLC raised its stake in shares of Brookline Bancorp by 20.0% in the second quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock worth $175,000 after purchasing an additional 2,000 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Brookline Bancorp by 5.4% in the second quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock worth $209,000 after purchasing an additional 738 shares during the last quarter. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Brookline Bancorp in the first quarter worth approximately $218,000. 78.05% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on BRKL. Sandler O’Neill raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, August 21st. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $15.00 target price on shares of Brookline Bancorp in a report on Friday, July 14th. Finally, BidaskClub lowered Brookline Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Brookline Bancorp presently has a consensus rating of “Hold” and an average target price of $15.83.
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Brookline Bancorp, Inc. (NASDAQ BRKL) opened at 16.00 on Thursday. Brookline Bancorp, Inc. has a 12-month low of $12.05 and a 12-month high of $17.45. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 20.78 and a beta of 0.99. The stock has a 50 day moving average price of $14.78 and a 200 day moving average price of $14.60.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The company had revenue of $60.10 million during the quarter, compared to analyst estimates of $58.08 million. During the same period in the previous year, the business earned $0.18 EPS. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, analysts expect that Brookline Bancorp, Inc. will post $0.79 EPS for the current year.
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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