Baystate Wealth Management LLC maintained its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,141 shares of the bank’s stock at the end of the second quarter. Baystate Wealth Management LLC’s holdings in Brookline Bancorp were worth $132,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted 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 worth $121,000 after buying an additional 160 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Brookline Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the bank’s stock worth $449,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System boosted its stake in Brookline Bancorp by 1.1% in the first quarter. Arizona State Retirement System now owns 36,739 shares of the bank’s stock worth $575,000 after buying an additional 400 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Brookline Bancorp by 5.4% in the second quarter. Eqis Capital Management Inc. now owns 14,321 shares of the bank’s stock worth $209,000 after buying an additional 738 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake 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 worth $258,000 after buying an additional 1,086 shares during the period. Institutional investors own 71.41% of the company’s stock.
Brookline Bancorp, Inc. (NASDAQ BRKL) remained flat at $14.05 during trading on Wednesday. The company’s stock had a trading volume of 328,709 shares. The stock has a market capitalization of $1.08 billion, a PE ratio of 18.25 and a beta of 0.97. Brookline Bancorp, Inc. has a 12-month low of $11.07 and a 12-month high of $17.45. The firm has a 50-day moving average of $14.58 and a 200 day moving average of $14.87.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $60.10 million for 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%. The firm’s revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Equities research analysts predict that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid 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 yield of 2.56%. Brookline Bancorp’s dividend payout ratio is presently 46.75%.
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A number of analysts have weighed in on BRKL shares. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $17.00 to $16.50 in a research report on Thursday, April 27th. BidaskClub cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. 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.
In related news, General Counsel Michael W. Mccurdy sold 4,895 shares of the 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 legal filing with the SEC, which is accessible through this link. 2.85% of the stock is owned by corporate 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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