JPMorgan Chase & Co. Boosts Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

JPMorgan Chase & Co. grew its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 109.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 647,100 shares of the bank’s stock after buying an additional 338,050 shares during the quarter. JPMorgan Chase & Co. owned 0.73% of Brookline Bancorp worth $6,529,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BRKL. FMR LLC boosted its position in Brookline Bancorp by 174.9% during the 3rd 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 period. Creative Planning purchased a new stake in shares of Brookline Bancorp in the third quarter worth about $103,000. Townsquare Capital LLC acquired a new stake in shares of Brookline Bancorp in the third quarter valued at about $111,000. Alta Wealth Advisors LLC purchased a new stake in shares of Brookline Bancorp during the 3rd quarter valued at about $117,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Brookline Bancorp during the 3rd quarter worth approximately $118,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Stock Up 2.1 %

Shares of NASDAQ:BRKL opened at $11.98 on Thursday. The firm has a market cap of $1.07 billion, a PE ratio of 14.43 and a beta of 0.79. The company has a fifty day simple moving average of $12.20 and a 200 day simple moving average of $10.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter in the prior year, the business posted $0.26 EPS. On average, equities research analysts anticipate that Brookline Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced 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 was Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.51%. Brookline Bancorp’s payout ratio is 65.06%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th. StockNews.com initiated coverage on shares of Brookline Bancorp in a report on Saturday, January 11th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a research note on Tuesday, December 24th.

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.