Eagle Asset Management Inc. Cuts Stake in Brookline Bancorp, Inc. (BRKL)

Eagle Asset Management Inc. lowered its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 387,555 shares of the bank’s stock after selling 105,095 shares during the quarter. Eagle Asset Management Inc.’s holdings in Brookline Bancorp were worth $6,084,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Virtu KCG Holdings LLC acquired a new stake in shares of Brookline Bancorp in the second quarter worth $176,000. Sei Investments Co. acquired a new stake in shares of Brookline Bancorp in the third quarter worth $197,000. New England Research & Management Inc. acquired a new stake in shares of Brookline Bancorp in the fourth quarter worth $254,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Brookline Bancorp in the third quarter worth $252,000. Finally, Aries Wealth Management acquired a new stake in shares of Brookline Bancorp in the fourth quarter worth $372,000. Hedge funds and other institutional investors own 77.74% of the company’s stock.

In related news, Director Charles H. Peck sold 16,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $16.38, for a total transaction of $262,080.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John A. Hackett sold 5,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $16.25, for a total transaction of $81,250.00. Following the sale, the director now directly owns 31,500 shares in the company, valued at $511,875. The disclosure for this sale can be found here. Insiders have sold 49,500 shares of company stock worth $808,830 over the last three months. 2.85% of the stock is currently owned by insiders.

A number of analysts have recently weighed in on BRKL shares. BidaskClub lowered shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Piper Jaffray Companies reiterated a “hold” rating and issued a $16.50 price objective on shares of Brookline Bancorp in a research note on Tuesday, January 9th.

Shares of Brookline Bancorp, Inc. (NASDAQ BRKL) opened at $16.20 on Friday. Brookline Bancorp, Inc. has a twelve month low of $13.60 and a twelve month high of $17.05. The stock has a market cap of $1,268.68, a price-to-earnings ratio of 20.69 and a beta of 0.95. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.26.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Brookline Bancorp had a net margin of 17.11% and a return on equity of 7.58%. The firm had revenue of $63.47 million for the quarter, compared to the consensus estimate of $61.22 million. During the same period in the prior year, the firm posted $0.19 earnings per share. analysts anticipate that Brookline Bancorp, Inc. will post 1.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, February 15th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 52.94%.

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

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