HGK Asset Management Inc. grew its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,682 shares of the bank’s stock after buying an additional 5,647 shares during the quarter. HGK Asset Management Inc.’s holdings in Brookline Bancorp were worth $521,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in BRKL. Louisiana State Employees Retirement System raised its position in Brookline Bancorp by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the bank’s stock worth $449,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue raised its position in Brookline Bancorp by 2.1% during the 1st quarter. State of Alaska Department of Revenue now owns 7,790 shares of the bank’s stock worth $121,000 after buying an additional 160 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Brookline Bancorp by 6.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 102,554 shares of the bank’s stock worth $1,599,000 after buying an additional 6,564 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in Brookline Bancorp during the 1st quarter worth $213,000. Finally, Bank of New York Mellon Corp raised its position in Brookline Bancorp by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,277,891 shares of the bank’s stock worth $35,648,000 after buying an additional 24,588 shares during the last quarter. Institutional investors own 78.12% of the company’s stock.
BRKL has been the subject of a number of analyst reports. BidaskClub upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Sandler O’Neill raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Monday, August 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $15.00 price target on shares of Brookline Bancorp in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.83.
Brookline Bancorp, Inc. (NASDAQ:BRKL) traded up 0.874% during trading on Tuesday, hitting $14.425. 14,931 shares of the stock were exchanged. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 18.734 and a beta of 0.98. The stock’s 50 day moving average is $14.31 and its 200-day moving average is $14.66. Brookline Bancorp, Inc. has a one year low of $11.51 and a one year high of $17.45.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The business had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $58.08 million. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue was down 12.9% on a year-over-year basis. On average, equities research analysts expect that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Wednesday, August 9th. Brookline Bancorp’s dividend payout ratio is currently 46.75%.
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Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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