Fmr LLC Purchases 3,279 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Fmr LLC lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 174.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,154 shares of the bank’s stock after buying an additional 3,279 shares during the period. Fmr LLC’s holdings in Brookline Bancorp were worth $52,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. EMC Capital Management raised its stake in shares of Brookline Bancorp by 13.0% during the third quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock worth $160,000 after acquiring an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Brookline Bancorp by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after purchasing an additional 2,002 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Brookline Bancorp by 7.1% during the 2nd quarter. Sei Investments Co. now owns 51,037 shares of the bank’s stock valued at $426,000 after purchasing an additional 3,397 shares during the last quarter. Mayflower Financial Advisors LLC raised its position in Brookline Bancorp by 38.1% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 16,318 shares of the bank’s stock worth $165,000 after purchasing an additional 4,500 shares during the period. Finally, Quantbot Technologies LP lifted its stake in Brookline Bancorp by 36.6% in the third quarter. Quantbot Technologies LP now owns 19,669 shares of the bank’s stock worth $198,000 after purchasing an additional 5,271 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $11.96 on Wednesday. The company’s fifty day simple moving average is $11.97 and its two-hundred day simple moving average is $10.42. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. The firm has a market cap of $1.07 billion, a PE ratio of 14.41 and a beta of 0.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period last year, the firm earned $0.26 earnings per share. As a group, equities analysts expect that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.52%. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective on the stock. in a research note on Tuesday. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Brookline Bancorp 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.