Raymond James Financial Inc. Purchases New Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Raymond James Financial Inc. acquired a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 63,060 shares of the bank's stock, valued at approximately $744,000. Raymond James Financial Inc. owned about 0.07% of Brookline Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC raised its position in shares of Brookline Bancorp by 99.8% during the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank's stock valued at $2,149,000 after buying an additional 106,345 shares in the last quarter. Jane Street Group LLC raised its position in Brookline Bancorp by 12.2% during the third quarter. Jane Street Group LLC now owns 196,979 shares of the bank's stock valued at $1,988,000 after purchasing an additional 21,394 shares in the last quarter. Jennison Associates LLC raised its position in Brookline Bancorp by 7.7% during the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank's stock valued at $36,974,000 after purchasing an additional 224,888 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Brookline Bancorp by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank's stock worth $6,529,000 after purchasing an additional 338,050 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Brookline Bancorp in the 3rd quarter worth about $432,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

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Brookline Bancorp Trading Down 6.1 %

BRKL stock traded down $0.62 during midday trading on Thursday, hitting $9.53. The company had a trading volume of 760,874 shares, compared to its average volume of 578,512. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The stock has a market cap of $849.17 million, a price-to-earnings ratio of 12.38 and a beta of 0.71. The stock's 50 day moving average price is $11.25 and its 200 day moving average price is $11.49.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly 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, equities research analysts expect that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.67%. The ex-dividend date was Friday, February 14th. Brookline Bancorp's dividend payout ratio (DPR) is currently 70.13%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BRKL. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price for the company. in a research report on Tuesday, December 24th. 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 report on Friday, December 20th. Finally, StockNews.com initiated coverage on shares of Brookline Bancorp in a report on Wednesday. They set a "hold" rating on the stock.

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.