JPMorgan Chase & Co. increased its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 62.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,051,997 shares of the bank's stock after purchasing an additional 404,897 shares during the quarter. JPMorgan Chase & Co. owned 1.18% of Brookline Bancorp worth $12,414,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Barclays PLC lifted its stake in shares of Brookline Bancorp by 99.8% during the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank's stock worth $2,149,000 after acquiring an additional 106,345 shares during the last quarter. Jane Street Group LLC raised its position in shares of Brookline Bancorp by 12.2% in the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank's stock worth $1,988,000 after acquiring an additional 21,394 shares in the last quarter. Jennison Associates LLC raised its holdings in Brookline Bancorp by 7.7% in the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank's stock worth $36,974,000 after purchasing an additional 224,888 shares in the last quarter. American Century Companies Inc. lifted its position in Brookline Bancorp by 17.0% during the fourth quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock valued at $22,465,000 after acquiring an additional 276,025 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Brookline Bancorp by 96.2% in the 4th quarter. Intech Investment Management LLC now owns 125,592 shares of the bank's stock worth $1,482,000 after purchasing an additional 61,591 shares in the last quarter. Institutional investors own 78.91% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on BRKL. StockNews.com assumed coverage on shares of Brookline Bancorp in a research report on Wednesday, April 9th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods cut Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price target for the company. in a research report on Tuesday, December 24th. Finally, Raymond James upgraded shares of Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price objective for the company in a research report on Friday, December 20th.
Check Out Our Latest Research Report on BRKL
Brookline Bancorp Price Performance
Shares of NASDAQ BRKL traded up $0.14 during midday trading on Tuesday, hitting $9.81. The stock had a trading volume of 353,422 shares, compared to its average volume of 581,325. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $11.48. The company has a market capitalization of $882.51 million, a PE ratio of 12.74 and a beta of 0.71.
Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last issued its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, sell-side analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.
Brookline Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 5.50%. Brookline Bancorp's payout ratio is currently 70.13%.
About Brookline Bancorp
(
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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