Monarch Partners Asset Management LLC boosted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 39.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 438,369 shares of the bank’s stock after buying an additional 123,945 shares during the period. Monarch Partners Asset Management LLC owned approximately 0.57% of Brookline Bancorp worth $6,400,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BRKL. State of Alaska Department of Revenue boosted its position 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 in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Brookline Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the bank’s stock valued at $449,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System raised its position in shares of Brookline Bancorp by 1.1% in the first quarter. Arizona State Retirement System now owns 36,739 shares of the bank’s stock valued at $575,000 after buying an additional 400 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Brookline Bancorp by 5.4% in the second quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock valued at $209,000 after buying an additional 738 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Brookline Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 16,499 shares of the bank’s stock valued at $258,000 after buying an additional 1,086 shares during the last quarter. 71.92% of the stock is owned by hedge funds and other institutional investors.
Brookline Bancorp, Inc. (NASDAQ BRKL) opened at 13.90 on Friday. Brookline Bancorp, Inc. has a 12 month low of $11.07 and a 12 month high of $17.45. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 18.05 and a beta of 0.97. The firm’s 50-day moving average is $14.60 and its 200 day moving average is $14.92.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The company had revenue of $60.10 million for the quarter, compared to the consensus estimate of $58.08 million. During the same period in the previous year, the firm earned $0.18 EPS. Brookline Bancorp’s revenue was down 12.9% on a year-over-year basis. Equities analysts predict that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.59%. Brookline Bancorp’s payout ratio is currently 46.75%.
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Several research analysts have weighed in on the stock. BidaskClub lowered shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Jaffray Companies restated a “hold” rating and set a $15.00 target price on shares of Brookline Bancorp in a research report on Friday, July 14th. Finally, Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $17.00 to $16.50 in a research report on Thursday, April 27th.
In related news, General Counsel Michael W. Mccurdy sold 4,895 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were 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 SEC, which can be accessed through this hyperlink. 2.85% of the stock is owned by insiders.
Brookline Bancorp Company 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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