Principal Financial Group Inc. boosted its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 615,505 shares of the bank’s stock after purchasing an additional 7,186 shares during the period. Principal Financial Group Inc. owned about 0.80% of Brookline Bancorp worth $9,540,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in Brookline Bancorp by 1.9% during the second quarter. PNC Financial Services Group Inc. now owns 23,832 shares of the bank’s stock valued at $346,000 after purchasing an additional 451 shares in the last quarter. Nationwide Fund Advisors lifted its position in Brookline Bancorp by 0.8% during the second quarter. Nationwide Fund Advisors now owns 116,690 shares of the bank’s stock valued at $1,704,000 after purchasing an additional 875 shares in the last quarter. Victory Capital Management Inc. lifted its position in Brookline Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after purchasing an additional 1,819 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Brookline Bancorp by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 13,953 shares of the bank’s stock valued at $218,000 after purchasing an additional 1,947 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC lifted its position in Brookline Bancorp by 20.0% during the second quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.
Shares of Brookline Bancorp, Inc. (NASDAQ BRKL) opened at $16.25 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $1,226.44, a PE ratio of 20.51 and a beta of 0.97. Brookline Bancorp, Inc. has a twelve month low of $13.60 and a twelve month high of $17.45.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. Brookline Bancorp’s dividend payout ratio is presently 46.15%.
BRKL has been the topic of several analyst reports. Sandler O’Neill downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. BidaskClub downgraded Brookline Bancorp from a “hold” rating to a “sell” rating in a research 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. The stock currently has an average rating of “Hold” and an average price target of $15.83.
In other Brookline Bancorp news, Director Charles H. Peck sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $16.38, for a total transaction of $262,080.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul A. Perrault sold 103,255 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total value of $1,516,815.95. Following the sale, the chief executive officer now directly owns 421,122 shares in the company, valued at $6,186,282.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,255 shares of company stock worth $1,882,396. Insiders own 2.85% of the company’s stock.
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Brookline Bancorp Company Profile
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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