Pinebridge Investments L.P. boosted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 21.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,951 shares of the bank’s stock after acquiring an additional 10,255 shares during the quarter. Pinebridge Investments L.P.’s holdings in Brookline Bancorp were worth $910,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in Brookline Bancorp in the 3rd quarter worth approximately $197,000. New England Research & Management Inc. acquired a new position in shares of Brookline Bancorp during the 4th quarter worth $254,000. Crossmark Global Holdings Inc. acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth $252,000. Aries Wealth Management acquired a new position in shares of Brookline Bancorp during the 4th quarter worth $372,000. Finally, Trexquant Investment LP acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth $367,000. Institutional investors own 77.74% of the company’s stock.
In related news, Director Thomas J. Hollister sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $15.75, for a total value of $55,125.00. Following the transaction, the director now directly owns 28,500 shares in the company, valued at approximately $448,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider M Robert Rose sold 12,500 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $16.07, for a total transaction of $200,875.00. Following the completion of the transaction, the insider now owns 35,277 shares in the company, valued at $566,901.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,500 shares of company stock worth $876,550. 2.85% of the stock is currently owned by company insiders.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Brookline Bancorp had a net margin of 17.11% and a return on equity of 7.58%. The company had revenue of $63.47 million for the quarter, compared to analyst estimates of $61.22 million. During the same quarter in the prior year, the business posted $0.19 EPS. research analysts forecast that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.36 annualized dividend and a dividend yield of 2.21%. Brookline Bancorp’s dividend payout ratio (DPR) is 52.94%.
Several brokerages have recently commented on BRKL. Piper Jaffray Companies restated a “hold” rating and set a $16.50 price target on shares of Brookline Bancorp in a research note on Tuesday, January 9th. BidaskClub lowered shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th.
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Brookline Bancorp 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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