HighTower Advisors LLC raised its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 6.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,681 shares of the bank’s stock after purchasing an additional 4,904 shares during the quarter. HighTower Advisors LLC owned 0.11% of Brookline Bancorp worth $1,269,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in Brookline Bancorp by 33.7% during the 2nd quarter. Aperio Group LLC now owns 28,585 shares of the bank’s stock valued at $417,000 after purchasing an additional 7,198 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Brookline Bancorp during the 2nd quarter valued at about $7,070,000. Stifel Financial Corp increased its stake in Brookline Bancorp by 169.3% during the 1st quarter. Stifel Financial Corp now owns 33,883 shares of the bank’s stock valued at $531,000 after purchasing an additional 21,303 shares in the last quarter. Jennison Associates LLC increased its stake in Brookline Bancorp by 1,864.0% during the 2nd quarter. Jennison Associates LLC now owns 902,960 shares of the bank’s stock valued at $13,183,000 after purchasing an additional 856,984 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Brookline Bancorp by 11.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 114,154 shares of the bank’s stock valued at $1,660,000 after purchasing an additional 11,600 shares in the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
A number of analysts have weighed in on the stock. Piper Jaffray Companies restated a “hold” rating and set a $15.00 price objective on shares of Brookline Bancorp in a research note on Friday, July 14th. BidaskClub lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Sandler O’Neill upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, August 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.83.
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Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 16.00 on Thursday. Brookline Bancorp, Inc. has a 52 week low of $12.05 and a 52 week high of $17.45. The stock has a 50 day moving average of $14.78 and a 200-day moving average of $14.60. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 20.78 and a beta of 0.99.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The firm had revenue of $60.10 million for the quarter, compared to the consensus estimate of $58.08 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. On average, analysts anticipate that Brookline Bancorp, Inc. will post $0.79 EPS for the current year.
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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