Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 13.4% in the 4th quarter, Holdings Channel reports. The fund owned 28,542 shares of the bank’s stock after purchasing an additional 3,363 shares during the period. Victory Capital Management Inc.’s holdings in Brookline Bancorp were worth $311,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Jennison Associates LLC grew its position in Brookline Bancorp by 24.0% in the fourth quarter. Jennison Associates LLC now owns 4,493,648 shares of the bank’s stock valued at $49,026,000 after acquiring an additional 870,327 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Brookline Bancorp by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,487,227 shares of the bank’s stock valued at $31,769,000 after acquiring an additional 41,924 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Brookline Bancorp by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock valued at $9,379,000 after acquiring an additional 63,039 shares in the last quarter. American Century Companies Inc. grew its position in Brookline Bancorp by 13.2% in the third quarter. American Century Companies Inc. now owns 789,531 shares of the bank’s stock valued at $7,193,000 after acquiring an additional 92,291 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its position in Brookline Bancorp by 12.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 516,761 shares of the bank’s stock valued at $5,638,000 after acquiring an additional 58,170 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Stock Performance

Brookline Bancorp stock opened at $8.72 on Friday. The stock has a 50 day moving average of $9.14 and a 200-day moving average of $9.78. Brookline Bancorp, Inc. has a 52 week low of $7.93 and a 52 week high of $11.52. The stock has a market cap of $775.12 million, a P/E ratio of 9.38 and a beta of 0.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The business had revenue of $87.87 million during the quarter, compared to analyst estimates of $91.77 million. Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. On average, analysts expect that Brookline Bancorp, Inc. will post 0.72 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend was Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is 58.07%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BRKL shares. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods reduced their target price on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Brookline Bancorp has an average rating of “Moderate Buy” and a consensus price target of $11.08.

Brookline Bancorp Company Profile

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.