Jennison Associates LLC boosted its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,133,365 shares of the bank's stock after acquiring an additional 224,888 shares during the quarter. Jennison Associates LLC owned about 3.52% of Brookline Bancorp worth $36,974,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BRKL. Versant Capital Management Inc increased its holdings in shares of Brookline Bancorp by 124.2% in 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 in the last quarter. FMR LLC increased its holdings in Brookline Bancorp by 174.9% in 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 in the last quarter. KBC Group NV lifted its position in shares of Brookline Bancorp by 60.3% during the 4th quarter. KBC Group NV now owns 6,438 shares of the bank's stock valued at $76,000 after acquiring an additional 2,421 shares during the period. Creative Planning purchased a new stake in shares of Brookline Bancorp during the 3rd quarter worth approximately $103,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Brookline Bancorp in the 3rd quarter worth approximately $111,000. Institutional investors and hedge funds own 78.91% of the company's stock.
Brookline Bancorp Stock Performance
NASDAQ BRKL opened at $12.52 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The business has a fifty day moving average of $12.09 and a 200-day moving average of $11.09. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 16.26 and a beta of 0.79.
Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Brookline Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.
Brookline Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.31%. Brookline Bancorp's dividend payout ratio (DPR) is currently 70.13%.
Analysts Set New Price Targets
A number of analysts have commented on BRKL shares. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price on the stock. in a research report on Tuesday, December 24th. Raymond James raised shares of Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th. Finally, StockNews.com began coverage on shares of Brookline Bancorp in a research report on Tuesday. They set a "hold" rating for the company.
Check Out Our Latest Stock Report on BRKL
Brookline Bancorp Company Profile
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Free Report)
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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