Hennessy Advisors Inc. lessened its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 615,000 shares of the bank’s stock after selling 5,000 shares during the quarter. Hennessy Advisors Inc. owned 0.81% of Brookline Bancorp worth $8,979,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its holdings in shares of Brookline Bancorp by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 7,790 shares of the bank’s stock worth $121,000 after acquiring an additional 160 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Brookline Bancorp by 1.1% during the 1st 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 in the last quarter. Arizona State Retirement System lifted its holdings in Brookline Bancorp by 1.1% during the 1st 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 in the last quarter. Eqis Capital Management Inc. lifted its holdings in Brookline Bancorp by 5.4% during the 2nd 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 in the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in Brookline Bancorp by 7.0% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.
Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 14.85 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 19.29 and a beta of 0.98. Brookline Bancorp, Inc. has a 12 month low of $11.73 and a 12 month high of $17.45. The stock has a 50 day moving average of $14.25 and a 200-day moving average of $14.59.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Brookline Bancorp had a return on equity of 7.56% and a net margin of 19.64%. The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $58.08 million. During the same period in the previous year, the company posted $0.18 EPS. Brookline Bancorp’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, equities analysts forecast that Brookline Bancorp, Inc. will post $0.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, August 9th. Brookline Bancorp’s payout ratio is 46.75%.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reissued a “hold” rating and set a $15.00 target price on shares of Brookline Bancorp in a research report on Friday, July 14th. Finally, Sandler O’Neill raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report 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 issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.83.
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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