Russell Investments Group Ltd. decreased its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 32.1% in the second quarter, HoldingsChannel.com reports. The firm owned 491,881 shares of the bank’s stock after selling 232,102 shares during the quarter. Russell Investments Group Ltd.’s holdings in Brookline Bancorp were worth $9,150,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. raised its stake in Brookline Bancorp by 3.6% in the second quarter. Eagle Asset Management Inc. now owns 444,944 shares of the bank’s stock valued at $8,275,000 after buying an additional 15,586 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Brookline Bancorp in the second quarter valued at $711,000. Winthrop Advisory Group LLC acquired a new stake in Brookline Bancorp in the second quarter valued at $265,000. Rhumbline Advisers raised its stake in Brookline Bancorp by 5.2% in the second quarter. Rhumbline Advisers now owns 193,971 shares of the bank’s stock valued at $3,608,000 after buying an additional 9,626 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Brookline Bancorp in the second quarter valued at $316,000. 76.28% of the stock is owned by institutional investors.
BRKL opened at $18.00 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.17 and a current ratio of 1.17. Brookline Bancorp, Inc. has a one year low of $13.65 and a one year high of $19.35. The stock has a market cap of $1.46 billion, a PE ratio of 22.46 and a beta of 0.78.
Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, July 25th. The bank reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. Brookline Bancorp had a return on equity of 8.53% and a net margin of 19.97%. The business had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $69.40 million. equities research analysts anticipate that Brookline Bancorp, Inc. will post 1.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 9th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 50.00%.
In other news, insider James M. Cosman sold 2,750 shares of Brookline Bancorp stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $18.01, for a total transaction of $49,527.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David C. Chapin sold 5,000 shares of Brookline Bancorp stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.01, for a total value of $90,050.00. The disclosure for this sale can be found here. Insiders have sold 12,250 shares of company stock worth $222,153 in the last quarter. Insiders own 2.51% of the company’s stock.
A number of analysts have weighed in on the company. BidaskClub cut Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. Zacks Investment Research cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.00 price target on shares of Brookline Bancorp in a research note on Friday, July 13th. Finally, ValuEngine cut Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Brookline Bancorp currently has a consensus rating of “Hold” and an average target price of $18.67.
Brookline Bancorp Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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