American Century Companies Inc. Boosts Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

American Century Companies Inc. raised its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,903,813 shares of the bank's stock after purchasing an additional 276,025 shares during the period. American Century Companies Inc. owned 2.14% of Brookline Bancorp worth $22,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRKL. Versant Capital Management Inc raised its stake in Brookline Bancorp by 124.2% during the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock valued at $34,000 after purchasing an additional 1,595 shares during the period. FMR LLC raised its position in shares of Brookline Bancorp by 174.9% during the third quarter. FMR LLC now owns 5,154 shares of the bank's stock valued at $52,000 after buying an additional 3,279 shares during the last quarter. KBC Group NV lifted its holdings in shares of Brookline Bancorp by 60.3% in the fourth quarter. KBC Group NV now owns 6,438 shares of the bank's stock worth $76,000 after buying an additional 2,421 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Brookline Bancorp during the third quarter worth $111,000. Finally, Semanteon Capital Management LP purchased a new position in Brookline Bancorp during the fourth quarter valued at $133,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Price Performance

BRKL stock traded down $0.84 during trading on Thursday, hitting $10.12. 773,482 shares of the company's stock traded hands, compared to its average volume of 566,979. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The stock has a market capitalization of $901.74 million, a price-to-earnings ratio of 13.14 and a beta of 0.71. The business has a fifty day simple moving average of $11.57 and a 200 day simple moving average of $11.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12.

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Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, research analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 5.34%. Brookline Bancorp's payout ratio is presently 70.13%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods cut shares of Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price target on the stock. in a research note on Tuesday, December 24th. Raymond James upgraded Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 target price on the stock in a research report on Friday, December 20th. Finally, StockNews.com began coverage on Brookline Bancorp in a report on Tuesday. They set a "hold" rating for the company.

About Brookline Bancorp

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.