Cipher Capital LP bought a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,543 shares of the bank’s stock, valued at approximately $431,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Brookline Bancorp by 49,990.5% in the first quarter. BlackRock Inc. now owns 8,736,778 shares of the bank’s stock valued at $136,731,000 after purchasing an additional 8,719,336 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Brookline Bancorp by 4.8% in the first quarter. Vanguard Group Inc. now owns 6,554,341 shares of the bank’s stock valued at $102,576,000 after purchasing an additional 298,105 shares in the last quarter. State Street Corp grew its position in shares of Brookline Bancorp by 11.4% in the first quarter. State Street Corp now owns 2,324,180 shares of the bank’s stock valued at $36,377,000 after purchasing an additional 237,230 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Brookline Bancorp by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 2,277,891 shares of the bank’s stock valued at $35,648,000 after purchasing an additional 24,588 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Brookline Bancorp by 4.2% in the second quarter. Russell Investments Group Ltd. now owns 1,360,758 shares of the bank’s stock valued at $19,859,000 after purchasing an additional 54,627 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.
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BRKL has been the subject of several recent research reports. BidaskClub upgraded Brookline Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Sandler O’Neill upgraded Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, August 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 price target on shares of Brookline Bancorp in a research report on Friday, July 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.83.
Brookline Bancorp, Inc. (BRKL) opened at 13.95 on Monday. Brookline Bancorp, Inc. has a 12 month low of $11.51 and a 12 month high of $17.45. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $14.69. The stock has a market capitalization of $1.07 billion, a PE ratio of 18.12 and a beta of 0.98.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $60.10 million during the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.18 EPS. On average, equities research analysts forecast that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a $0.09 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.36 annualized dividend and a dividend yield of 2.58%. Brookline Bancorp’s dividend payout ratio (DPR) is 46.75%.
Brookline Bancorp 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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