Wellington Management Group LLP raised its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 46.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 222,248 shares of the bank’s stock after buying an additional 70,246 shares during the period. Wellington Management Group LLP owned about 0.32% of Brookline Bancorp worth $3,478,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Brookline Bancorp by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 7,790 shares of the bank’s stock valued at $121,000 after buying an additional 160 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Brookline Bancorp during the first quarter valued at $161,000. Airain ltd acquired a new stake in Brookline Bancorp during the first quarter valued at $173,000. Eqis Capital Management Inc. acquired a new stake in Brookline Bancorp during the first quarter valued at $213,000. Finally, OppenheimerFunds Inc. acquired a new stake in Brookline Bancorp during the first quarter valued at $218,000. 71.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) traded up 0.34% during trading on Tuesday, hitting $14.60. The stock had a trading volume of 231,298 shares. Brookline Bancorp, Inc. has a 1-year low of $11.07 and a 1-year high of $17.45. The firm has a 50 day moving average of $14.61 and a 200 day moving average of $14.97. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.96 and a beta of 0.97.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $60.10 million during the quarter, compared to the consensus estimate of $58.08 million. Brookline Bancorp had a return on equity of 7.56% and a net margin of 19.64%. Brookline Bancorp’s revenue was down 12.9% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Analysts expect that Brookline Bancorp, Inc. will post $0.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Wednesday, August 9th. Brookline Bancorp’s dividend payout ratio is currently 46.75%.
Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $17.00 to $16.50 in a report on Thursday, April 27th. BidaskClub downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 price target on shares of Brookline Bancorp in a report on Friday, July 14th.
In other Brookline Bancorp news, General Counsel Michael W. Mccurdy sold 4,895 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $14.20, for a total value of $69,509.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.85% of the company’s stock.
About Brookline Bancorp
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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