JPMorgan Chase & Co. Raises Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

JPMorgan Chase & Co. lifted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 109.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 647,100 shares of the bank's stock after purchasing an additional 338,050 shares during the quarter. JPMorgan Chase & Co. owned 0.73% of Brookline Bancorp worth $6,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BRKL. EMC Capital Management boosted its stake in shares of Brookline Bancorp by 13.0% during the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank's stock worth $160,000 after acquiring an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookline Bancorp by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank's stock valued at $338,000 after buying an additional 2,002 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Brookline Bancorp by 4.4% during the third quarter. Captrust Financial Advisors now owns 64,734 shares of the bank's stock valued at $653,000 after purchasing an additional 2,730 shares in the last quarter. FMR LLC grew its position in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank's stock worth $52,000 after buying an additional 3,279 shares during the period. Finally, Sei Investments Co. lifted its holdings in Brookline Bancorp by 7.1% in the second quarter. Sei Investments Co. now owns 51,037 shares of the bank's stock valued at $426,000 after buying an additional 3,397 shares during the period. Hedge funds and other institutional investors own 78.91% of the company's stock.

Brookline Bancorp Price Performance

BRKL stock traded down $0.06 during midday trading on Thursday, reaching $11.92. The company had a trading volume of 622,913 shares, compared to its average volume of 611,151. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.36 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $13.15. The stock has a 50 day moving average price of $12.19 and a 200-day moving average price of $10.79.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.03. The firm had revenue of $165.91 million for the quarter, compared to analysts' expectations of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities research analysts expect that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.53%. Brookline Bancorp's dividend payout ratio (DPR) is presently 65.06%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com started coverage on Brookline Bancorp in a research report on Saturday, January 11th. They issued a "hold" rating 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 for the company. in a report on Tuesday, December 24th. Finally, Raymond James upgraded Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price objective for the company in a report on Friday, December 20th.

Brookline Bancorp Company 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.