Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Connor Clark & Lunn Investment Management Ltd. raised its position in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 50.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,406 shares of the bank's stock after buying an additional 30,073 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Brookline Bancorp worth $1,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BRKL. Versant Capital Management Inc increased its holdings in Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock worth $34,000 after acquiring an additional 1,595 shares during the last quarter. FMR LLC increased its stake in shares of Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank's stock worth $52,000 after purchasing an additional 3,279 shares in the last quarter. KBC Group NV raised its position 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 valued at $76,000 after purchasing an additional 2,421 shares during the period. Townsquare Capital LLC purchased a new stake in shares of Brookline Bancorp during the 3rd quarter valued at approximately $111,000. Finally, iSAM Funds UK Ltd bought a new position in Brookline Bancorp in the 3rd quarter worth approximately $123,000. Hedge funds and other institutional investors own 78.91% of the company's stock.

Brookline Bancorp Price Performance

Shares of BRKL traded up $0.33 during trading hours on Monday, reaching $11.19. 359,078 shares of the company's stock traded hands, compared to its average volume of 526,558. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The firm's 50 day simple moving average is $11.74 and its 200-day simple moving average is $11.47. The stock has a market cap of $997.08 million, a PE ratio of 14.53 and a beta of 0.78. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15.

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Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) 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%. Equities analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.135 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.83%. Brookline Bancorp's dividend payout ratio is presently 70.13%.

Analyst Ratings Changes

Several research firms have issued reports on BRKL. 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 upgraded Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 target price for the company in a research note on Friday, December 20th. Finally, StockNews.com started coverage on Brookline Bancorp in a report on Monday. They set a "hold" rating for the company.

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.