Mason Street Advisors LLC acquired a new position in shares of Brookline Bancorp Inc. (NASDAQ:BRKL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,762 shares of the company’s stock, valued at approximately $152,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its position in shares of Brookline Bancorp by 3.2% in the first quarter. Glenmede Trust Co. NA now owns 39,763 shares of the company’s stock worth $437,000 after buying an additional 1,223 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Brookline Bancorp by 1.6% in the first quarter. TIAA CREF Investment Management LLC now owns 372,642 shares of the company’s stock worth $4,103,000 after buying an additional 6,017 shares during the period. Teachers Advisors Inc. raised its position in shares of Brookline Bancorp by 2.6% in the first quarter. Teachers Advisors Inc. now owns 965,611 shares of the company’s stock worth $10,631,000 after buying an additional 24,327 shares during the period. Prudential Financial Inc. raised its position in shares of Brookline Bancorp by 3.4% in the first quarter. Prudential Financial Inc. now owns 447,127 shares of the company’s stock worth $4,923,000 after buying an additional 14,577 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Brookline Bancorp by 5.9% in the first quarter. BlackRock Group LTD now owns 117,691 shares of the company’s stock worth $1,296,000 after buying an additional 6,589 shares during the period. Institutional investors and hedge funds own 74.67% of the company’s stock.
Shares of Brookline Bancorp Inc. (NASDAQ:BRKL) opened at 12.26 on Friday. Brookline Bancorp Inc. has a one year low of $9.91 and a one year high of $12.44. The stock has a 50 day moving average price of $12.01 and a 200 day moving average price of $11.45. The firm has a market cap of $864.53 million, a price-to-earnings ratio of 16.79 and a beta of 0.87.
Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 firm posted $0.17 earnings per share. On average, equities research analysts forecast that Brookline Bancorp Inc. will post $0.73 EPS for the current year.
A number of brokerages have issued reports on BRKL. Compass Point boosted their price target on Brookline Bancorp from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, July 21st. Keefe, Bruyette & Woods upgraded Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target for the company in a research report on Friday, July 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $12.63.
In other news, General Counsel Michael W. Mccurdy sold 9,200 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $11.80, for a total value of $108,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.82% of the stock is owned by 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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