Royal Bank of Canada Increases Position in Brookline Bancorp, Inc. (BRKL)

Royal Bank of Canada boosted its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 11.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 89,021 shares of the bank’s stock after acquiring an additional 9,107 shares during the period. Royal Bank of Canada owned 0.12% of Brookline Bancorp worth $1,299,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Brookline Bancorp during the 2nd quarter valued at about $150,000. Alpine Woods Capital Investors LLC grew its holdings in Brookline Bancorp by 20.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after buying an additional 2,000 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in Brookline Bancorp during the 2nd quarter valued at about $176,000. Victory Capital Management Inc. grew its holdings in Brookline Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after buying an additional 1,819 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in Brookline Bancorp by 5.4% during the 2nd quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock valued at $209,000 after buying an additional 738 shares in the last quarter. 77.93% of the stock is owned by institutional investors and hedge funds.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $62.82 million for the quarter, compared to the consensus estimate of $60.37 million. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. During the same quarter last year, the company earned $0.19 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, November 2nd. Brookline Bancorp’s dividend payout ratio (DPR) is presently 46.15%.

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A number of research analysts have weighed in on the company. 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 set 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.83.

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.

Institutional Ownership by Quarter for Brookline Bancorp (NASDAQ:BRKL)

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