Principal Financial Group Inc. Has $5.10 Million Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Principal Financial Group Inc. grew its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 432,069 shares of the bank’s stock after purchasing an additional 12,999 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Brookline Bancorp worth $5,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BRKL. Barclays PLC boosted its holdings in Brookline Bancorp by 99.8% during the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after buying an additional 106,345 shares during the last quarter. Jane Street Group LLC grew its holdings in Brookline Bancorp by 12.2% during the third quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock valued at $1,988,000 after purchasing an additional 21,394 shares during the period. Jennison Associates LLC increased its stake in Brookline Bancorp by 7.7% in the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock valued at $36,974,000 after purchasing an additional 224,888 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Brookline Bancorp by 384.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock worth $599,000 after purchasing an additional 47,094 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after purchasing an additional 338,050 shares during the period. 78.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com assumed coverage on Brookline Bancorp in a research note on Friday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research report on Tuesday, December 24th. Finally, Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Friday, December 20th.

Brookline Bancorp Trading Down 1.0 %

NASDAQ BRKL opened at $11.68 on Tuesday. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The stock’s 50 day moving average price is $11.96 and its two-hundred day moving average price is $11.37. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 15.17 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.62%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

About Brookline Bancorp

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.