Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 1.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,089,187 shares of the bank’s stock after purchasing an additional 26,714 shares during the period. Geode Capital Management LLC owned 2.34% of Brookline Bancorp worth $21,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BRKL. EMC Capital Management lifted its holdings in Brookline Bancorp by 13.0% during the 3rd quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock worth $160,000 after buying an additional 1,819 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 acquiring an additional 2,002 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Brookline Bancorp by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 64,734 shares of the bank’s stock valued at $653,000 after acquiring an additional 2,730 shares in the last quarter. FMR LLC lifted its stake in Brookline Bancorp by 174.9% during the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after purchasing an additional 3,279 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Brookline Bancorp by 7.1% in the second quarter. Sei Investments Co. now owns 51,037 shares of the bank’s stock worth $426,000 after purchasing an additional 3,397 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Performance

BRKL stock opened at $11.77 on Friday. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.18 and a beta of 0.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average is $12.04 and its two-hundred day moving average is $10.48.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The firm had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the firm posted $0.26 EPS. On average, research analysts predict 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 dividend of $0.135 per share. The ex-dividend date was Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.59%. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Friday, December 20th. Keefe, Bruyette & Woods lowered shares of 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, December 24th. Finally, StockNews.com assumed coverage on Brookline Bancorp in a research note on Thursday. They issued a “hold” rating for the company.

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.