Eagle Asset Management, Inc. lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 458,393 shares of the bank’s stock after purchasing an additional 13,449 shares during the period. Eagle Asset Management, Inc. owned about 0.57% of Brookline Bancorp, Inc. worth $7,655,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in Brookline Bancorp, Inc. by 5.2% in the 2nd quarter. Rhumbline Advisers now owns 193,971 shares of the bank’s stock valued at $3,608,000 after acquiring an additional 9,626 shares during the last quarter. First Republic Investment Management, Inc. acquired a new position in Brookline Bancorp, Inc. in the 2nd quarter valued at $431,000. Victory Capital Management, Inc. raised its holdings in Brookline Bancorp, Inc. by 49.4% in the 3rd quarter. Victory Capital Management, Inc. now owns 41,300 shares of the bank’s stock valued at $690,000 after acquiring an additional 13,662 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Brookline Bancorp, Inc. by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,051,264 shares of the bank’s stock valued at $17,556,000 after acquiring an additional 157,280 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Brookline Bancorp, Inc. by 3.5% in the 3rd quarter. First Trust Advisors LP now owns 142,323 shares of the bank’s stock valued at $2,377,000 after acquiring an additional 4,781 shares during the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.
NASDAQ:BRKL traded down $0.10 during trading hours on Friday, hitting $14.14. The company had a trading volume of 242,052 shares, compared to its average volume of 310,556. Brookline Bancorp, Inc. has a fifty-two week low of $14.10 and a fifty-two week high of $19.35. The company has a market cap of $1.14 billion, a P/E ratio of 17.68 and a beta of 0.89. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Brookline Bancorp, Inc. had a return on equity of 9.13% and a net margin of 21.27%. The firm had revenue of $69.40 million during the quarter, compared to the consensus estimate of $68.80 million. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were given a $0.105 dividend. This is a boost from Brookline Bancorp, Inc.’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, November 8th. Brookline Bancorp, Inc.’s dividend payout ratio is presently 52.50%.
Brookline Bancorp, Inc. declared that its board has authorized a share repurchase plan on Thursday, December 6th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Brookline Bancorp, Inc. from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. BidaskClub downgraded Brookline Bancorp, Inc. from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.67.
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.