Keybank National Association OH cut its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Rating) by 36.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,884 shares of the bank’s stock after selling 7,946 shares during the quarter. Keybank National Association OH’s holdings in Brookline Bancorp were worth $162,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in BRKL. Invesco Ltd. grew its stake in shares of Brookline Bancorp by 125.5% during the 1st quarter. Invesco Ltd. now owns 1,055,528 shares of the bank’s stock valued at $16,698,000 after acquiring an additional 587,460 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in Brookline Bancorp in the 2nd quarter worth approximately $3,043,000. State Street Corp boosted its stake in Brookline Bancorp by 6.6% in the 1st quarter. State Street Corp now owns 3,390,965 shares of the bank’s stock worth $53,645,000 after purchasing an additional 210,204 shares during the period. BlackRock Inc. boosted its stake in Brookline Bancorp by 1.8% in the 1st quarter. BlackRock Inc. now owns 11,462,089 shares of the bank’s stock worth $181,333,000 after purchasing an additional 197,693 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Brookline Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 8,620,069 shares of the bank’s stock worth $136,371,000 after purchasing an additional 182,361 shares during the period. 82.28% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BRKL. Piper Sandler dropped their price target on Brookline Bancorp to $14.50 in a research note on Wednesday, October 5th. Compass Point upped their price target on Brookline Bancorp to $20.00 in a research note on Tuesday, November 1st. StockNews.com initiated coverage on Brookline Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Raymond James initiated coverage on Brookline Bancorp in a report on Tuesday, December 20th. They set a “market perform” rating on the stock.
Brookline Bancorp Stock Down 0.1 %
Shares of BRKL opened at $13.83 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 9.81 and a beta of 0.72. Brookline Bancorp, Inc. has a 1 year low of $11.59 and a 1 year high of $17.74. The business’s 50 day simple moving average is $13.81 and its 200-day simple moving average is $13.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.07 and a quick ratio of 1.07.
Brookline Bancorp (NASDAQ:BRKL – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $84.86 million for the quarter, compared to analysts’ expectations of $81.70 million. Brookline Bancorp had a return on equity of 11.24% and a net margin of 31.14%. As a group, equities analysts expect that Brookline Bancorp, Inc. will post 1.44 earnings per share for the current fiscal year.
Brookline Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 11th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.90%. The ex-dividend date was Wednesday, November 9th. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.13. Brookline Bancorp’s dividend payout ratio is presently 38.30%.
Brookline Bancorp Profile
Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.
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