State of Alaska Department of Revenue raised its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,790 shares of the bank’s stock after buying an additional 160 shares during the period. State of Alaska Department of Revenue’s holdings in Brookline Bancorp were worth $121,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group, Ltd. acquired a new position in Brookline Bancorp during the fourth quarter worth approximately $26,849,000. Norges Bank acquired a new position in Brookline Bancorp during the fourth quarter worth approximately $15,746,000. BlackRock Fund Advisors increased its position in Brookline Bancorp by 9.8% in the third quarter. BlackRock Fund Advisors now owns 4,892,137 shares of the bank’s stock worth $59,635,000 after buying an additional 435,383 shares during the period. Whalerock Point Partners, LLC acquired a new position in Brookline Bancorp during the third quarter worth approximately $4,761,000. Finally, State Street Corp increased its position in Brookline Bancorp by 9.5% in the fourth quarter. State Street Corp now owns 2,086,950 shares of the bank’s stock worth $34,229,000 after buying an additional 181,257 shares during the period. 77.36% of the stock is currently owned by institutional investors and hedge funds.
Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 14.05 on Tuesday. Brookline Bancorp, Inc. has a 12 month low of $10.40 and a 12 month high of $17.45. The stock has a 50 day moving average of $14.91 and a 200-day moving average of $15.28. The stock has a market cap of $1.08 billion, a P/E ratio of 18.73 and a beta of 0.88.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, April 26th. The bank reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The company had revenue of $69 million for the quarter, compared to analyst estimates of $56.36 million. Brookline Bancorp had a net margin of 19.97% and a return on equity of 7.53%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts forecast that Brookline Bancorp, Inc. will post $0.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $0.36 annualized dividend and a yield of 2.56%. Brookline Bancorp’s dividend payout ratio is currently 48.65%.
BRKL has been the topic of a number of analyst reports. Compass Point raised shares of Brookline Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, January 26th. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.00 to $16.50 in a research report on Thursday, April 27th.
In related news, Director John M. Pereira purchased 10,000 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $145,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.82% of the company’s stock.
About Brookline Bancorp, Inc.
Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England. The Company’s activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in Massachusetts and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services.