Teacher Retirement System of Texas purchased a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 206,333 shares of the bank's stock, valued at approximately $2,435,000. Teacher Retirement System of Texas owned 0.23% of Brookline Bancorp at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in 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 period. Jane Street Group LLC boosted 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 purchasing an additional 21,394 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Brookline Bancorp by 7.7% during 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookline Bancorp by 384.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank's stock worth $599,000 after purchasing an additional 47,094 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank's stock valued at $6,529,000 after purchasing an additional 338,050 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods cut Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price on the stock. in a report on Tuesday, December 24th. StockNews.com started coverage on shares of Brookline Bancorp in a research note on Monday, March 24th. They set a "hold" rating on the stock. 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 report on Friday, December 20th.
Read Our Latest Stock Analysis on Brookline Bancorp
Brookline Bancorp Trading Down 1.9 %
Brookline Bancorp stock traded down $0.21 during mid-day trading on Friday, hitting $10.91. 324,410 shares of the company's stock were exchanged, compared to its average volume of 564,194. The company's 50 day simple moving average is $11.67 and its 200-day simple moving average is $11.51. 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 firm has a market capitalization of $972.14 million, a P/E ratio of 14.17 and a beta of 0.78. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15.
Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 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, equities analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current 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 issued a dividend of $0.135 per share. The ex-dividend date was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.95%. Brookline Bancorp's dividend payout ratio (DPR) is currently 70.13%.
Brookline Bancorp 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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