Swiss National Bank increased its stake in Brookline Bancorp Inc. (NASDAQ:BRKL) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,000 shares of the company’s stock after buying an additional 2,700 shares during the period. Swiss National Bank owned about 0.17% of Brookline Bancorp worth $1,335,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Suntrust Banks Inc. increased its stake in Brookline Bancorp by 5.8% in the second quarter. Suntrust Banks Inc. now owns 11,368 shares of the company’s stock valued at $125,000 after buying an additional 622 shares during the last quarter. Legal & General Group Plc increased its stake in Brookline Bancorp by 14.5% in the first quarter. Legal & General Group Plc now owns 11,953 shares of the company’s stock valued at $132,000 after buying an additional 1,518 shares during the last quarter. Huntington Asset Advisors Inc. bought a new stake in Brookline Bancorp during the first quarter valued at about $154,000. Hartford Investment Management Co. bought a new stake in Brookline Bancorp during the second quarter valued at about $154,000. Finally, GWM Advisors LLC increased its stake in Brookline Bancorp by 1.2% in the second quarter. GWM Advisors LLC now owns 14,872 shares of the company’s stock valued at $164,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 74.67% of the company’s stock.
Shares of Brookline Bancorp Inc. (NASDAQ:BRKL) traded down 1.15% during trading on Thursday, hitting $12.02. The stock had a trading volume of 132,924 shares. Brookline Bancorp Inc. has a 1-year low of $9.86 and a 1-year high of $12.21. The company has a market capitalization of $847.60 million, a price-to-earnings ratio of 16.47 and a beta of 0.90. The firm has a 50 day moving average of $11.78 and a 200 day moving average of $11.35.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Brookline Bancorp had a return on equity of 7.59% and a net margin of 20.27%. During the same period in the previous year, the business earned $0.17 EPS. Analysts expect that Brookline Bancorp Inc. will post $0.73 EPS for the current fiscal year.
BRKL has been the topic of several recent analyst reports. Compass Point boosted their price objective on Brookline Bancorp from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Sandler O’Neill downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Keefe, Bruyette & Woods upgraded Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a report on Friday, July 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.63.
In other Brookline Bancorp news, General Counsel Michael W. Mccurdy sold 9,200 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $11.80, for a total transaction of $108,560.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.82% of the stock is owned by corporate insiders.
About Brookline Bancorp
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England.
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