Bessemer Group, Inc. lowered its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 42.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,893 shares of the bank’s stock after selling 12,400 shares during the quarter. Bessemer Group, Inc.’s holdings in Brookline Bancorp were worth $261,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Brookline Bancorp in the 2nd quarter valued at $150,000. Alpine Woods Capital Investors, LLC raised its stake 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 worth $175,000 after buying an additional 2,000 shares during the period. Virtu KCG Holdings LLC acquired a new stake in Brookline Bancorp during the 2nd quarter worth $176,000. Victory Capital Management Inc. raised its stake in Brookline Bancorp by 17.6% during the 2nd quarter. Victory Capital Management, Inc. now owns 12,137 shares of the bank’s stock worth $177,000 after buying an additional 1,819 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in Brookline Bancorp by 5.4% during the 2nd quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock worth $209,000 after buying an additional 738 shares during the period. 76.16% of the stock is currently owned by institutional investors.
Brookline Bancorp, Inc. (BRKL) opened at $15.15 on Monday. Brookline Bancorp, Inc. has a 1-year low of $13.60 and a 1-year high of $17.45. 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 $1,161.28, a PE ratio of 19.42 and a beta of 0.96.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. Brookline Bancorp had a net margin of 19.82% and a return on equity of 7.52%. The firm had revenue of $62.82 million during the quarter, compared to the consensus estimate of $60.37 million. During the same period last year, the business posted $0.19 earnings per share. analysts forecast that Brookline Bancorp, Inc. will post 0.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.38%. Brookline Bancorp’s payout ratio is 46.15%.
In other news, Director David C. Chapin sold 5,000 shares of Brookline Bancorp stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $14.70, for a total value of $73,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul A. Perrault sold 103,255 shares of Brookline Bancorp stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total transaction of $1,516,815.95. Following the completion of the sale, the chief executive officer now owns 421,122 shares of the company’s stock, valued at $6,186,282.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,255 shares of company stock valued at $1,620,316. 2.85% of the stock is owned by company insiders.
A number of equities analysts have issued reports on BRKL shares. BidaskClub upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Brookline Bancorp presently has an average rating of “Hold” and an average target price of $15.83.
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.