Whalerock Point Partners LLC bought a new stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) during the third quarter, Holdings Channel reports. The firm bought 390,602 shares of the company’s stock, valued at approximately $4,761,000. Brookline Bancorp accounts for 2.0% of Whalerock Point Partners LLC’s holdings, making the stock its 7th largest position.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Fund Advisors increased its stake in shares of Brookline Bancorp by 9.8% in the third quarter. BlackRock Fund Advisors now owns 4,892,137 shares of the company’s stock valued at $59,635,000 after buying an additional 435,383 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookline Bancorp by 2.2% in the second quarter. Principal Financial Group Inc. now owns 514,630 shares of the company’s stock valued at $5,676,000 after buying an additional 11,086 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Brookline Bancorp by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 479,787 shares of the company’s stock valued at $5,849,000 after buying an additional 2,439 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Brookline Bancorp by 5.4% in the third quarter. TIAA CREF Investment Management LLC now owns 387,147 shares of the company’s stock valued at $4,719,000 after buying an additional 19,858 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Brookline Bancorp by 28.4% in the third quarter. JPMorgan Chase & Co. now owns 282,922 shares of the company’s stock valued at $3,449,000 after buying an additional 62,543 shares in the last quarter. 77.36% of the stock is currently owned by institutional investors.
Brookline Bancorp, Inc. (NASDAQ:BRKL) traded up 0.32% during trading on Monday, reaching $15.55. The company had a trading volume of 86,864 shares. The stock has a 50 day moving average price of $15.99 and a 200 day moving average price of $13.72. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 21.01 and a beta of 0.88. Brookline Bancorp, Inc. has a 12 month low of $10.11 and a 12 month high of $17.45.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, January 25th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Brookline Bancorp had a return on equity of 7.53% and a net margin of 19.97%. During the same quarter last year, the business earned $0.19 EPS. On average, equities research analysts predict that Brookline Bancorp, Inc. will post $0.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, February 8th. This represents a $0.36 annualized dividend and a yield of 2.32%. Brookline Bancorp’s dividend payout ratio is 48.65%.
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Separately, Compass Point upgraded Brookline Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, January 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $12.63.
In other news, Director David C. Chapin sold 21,402 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $14.89, for a total value of $318,675.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO James M. Cosman sold 17,665 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $14.93, for a total value of $263,738.45. The disclosure for this sale can be found here. Insiders have sold 51,567 shares of company stock worth $770,539 over the last 90 days. Corporate insiders own 2.82% of the company’s stock.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England.
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