Prudential Financial Inc. cut its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 293,837 shares of the bank’s stock after selling 1,000 shares during the period. Prudential Financial Inc. owned about 0.42% of Brookline Bancorp worth $4,599,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position 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 valued at $121,000 after buying an additional 160 shares in the last quarter. Airain ltd purchased a new position in Brookline Bancorp during the first quarter valued at about $173,000. Eqis Capital Management Inc. purchased a new position in Brookline Bancorp during the first quarter valued at about $213,000. Mason Street Advisors LLC boosted its position in Brookline Bancorp by 7.0% in the first 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. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Brookline Bancorp by 11.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,897 shares of the bank’s stock valued at $261,000 after buying an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.
Brookline Bancorp, Inc. (NASDAQ BRKL) opened at 14.15 on Friday. Brookline Bancorp, Inc. has a 1-year low of $10.40 and a 1-year high of $17.45. The firm has a market capitalization of $1.08 billion, a PE ratio of 18.87 and a beta of 0.95. The company has a 50 day moving average of $14.20 and a 200 day moving average of $15.32.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, April 26th. The bank reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Brookline Bancorp had a net margin of 19.19% and a return on equity of 7.54%. The firm had revenue of $69 million for the quarter, compared to analyst estimates of $56.36 million. During the same period last year, the firm posted $0.18 EPS. Brookline Bancorp’s quarterly revenue was up 20.4% on a year-over-year basis. Analysts forecast that Brookline Bancorp, Inc. will post $0.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $0.36 dividend on an annualized basis and a yield of 2.54%. Brookline Bancorp’s dividend payout ratio (DPR) is 48.00%.
BRKL has been the subject of several analyst reports. BidaskClub cut shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods cut shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $17.00 to $16.50 in a research note on Thursday, April 27th.
In other news, Director John M. Pereira acquired 10,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $145,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael W. Mccurdy sold 4,895 shares of Brookline Bancorp stock in a transaction on Monday, June 5th. The shares were sold at an average price of $14.20, for a total transaction of $69,509.00. The disclosure for this sale can be found here. Company insiders own 2.85% 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 (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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