New England Research & Management Inc. purchased a new stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,156 shares of the bank’s stock, valued at approximately $254,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its position in Brookline Bancorp by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 28,710 shares of the bank’s stock worth $445,000 after purchasing an additional 10,630 shares during the last quarter. BlackRock Inc. raised its position in Brookline Bancorp by 6.5% during the 2nd quarter. BlackRock Inc. now owns 9,300,912 shares of the bank’s stock worth $135,794,000 after purchasing an additional 564,134 shares during the last quarter. Stifel Financial Corp raised its position in Brookline Bancorp by 34.5% during the 2nd quarter. Stifel Financial Corp now owns 45,583 shares of the bank’s stock worth $666,000 after purchasing an additional 11,700 shares during the last quarter. Ramsey Quantitative Systems bought a new position in Brookline Bancorp during the 2nd quarter worth $312,000. Finally, Crossmark Global Holdings Inc. bought a new position in Brookline Bancorp during the 3rd quarter worth $252,000. Institutional investors own 77.66% of the company’s stock.
Several research analysts recently issued reports on BRKL shares. Sandler O’Neill lowered Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. BidaskClub lowered Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $16.50 price objective on shares of Brookline Bancorp in a research report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.33.
Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 18th. The bank reported $0.20 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $62.82 million during the quarter, compared to the consensus estimate of $60.37 million. Brookline Bancorp had a return on equity of 7.52% and a net margin of 19.82%. During the same period last year, the business posted $0.19 EPS. analysts anticipate that Brookline Bancorp, Inc. will post 0.8 earnings per share for the current year.
In other Brookline Bancorp news, CEO Paul A. Perrault sold 103,255 shares of Brookline Bancorp stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $14.69, for a total transaction of $1,516,815.95. Following the completion of the transaction, the chief executive officer now owns 421,122 shares in the company, valued at approximately $6,186,282.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Chapin sold 5,000 shares of Brookline Bancorp stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.70, for a total value of $73,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,255 shares of company stock valued at $2,138,396. 2.85% of the stock is currently owned by company insiders.
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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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