Brookline Bancorp, Inc. (BRKL) Stake Increased by Bank of America Corp DE

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Bank of America Corp DE lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 493,477 shares of the bank’s stock after purchasing an additional 47,809 shares during the quarter. Bank of America Corp DE owned about 0.61% of Brookline Bancorp worth $9,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BRKL. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Brookline Bancorp during the second quarter valued at $143,000. WINTON GROUP Ltd purchased a new stake in Brookline Bancorp during the first quarter valued at $181,000. GSA Capital Partners LLP purchased a new stake in Brookline Bancorp during the second quarter valued at $214,000. Winthrop Advisory Group LLC purchased a new stake in Brookline Bancorp during the second quarter valued at $265,000. Finally, Xact Kapitalforvaltning AB increased its position in Brookline Bancorp by 25.7% during the first quarter. Xact Kapitalforvaltning AB now owns 18,583 shares of the bank’s stock valued at $301,000 after acquiring an additional 3,800 shares during the last quarter. 76.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ BRKL traded down $0.28 during mid-day trading on Friday, reaching $14.94. The company’s stock had a trading volume of 531,826 shares, compared to its average volume of 274,107. Brookline Bancorp, Inc. has a 52 week low of $14.45 and a 52 week high of $19.35. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 18.68 and a beta of 0.90. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.20.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $69.40 million during the quarter, compared to analyst estimates of $68.80 million. Brookline Bancorp had a return on equity of 9.13% and a net margin of 21.27%. Research analysts expect that Brookline Bancorp, Inc. will post 1.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.81%. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, November 8th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

In other news, Director David C. Chapin sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $18.01, for a total value of $90,050.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James M. Cosman sold 2,750 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $18.01, for a total value of $49,527.50. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $193,278 over the last ninety days. Corporate insiders own 2.51% of the company’s stock.

BRKL has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 price objective on shares of Brookline Bancorp in a research report on Friday, July 13th. Zacks Investment Research upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. ValuEngine cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, BidaskClub upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.67.

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Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.

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Institutional Ownership by Quarter for Brookline Bancorp (NASDAQ:BRKL)

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