State Street Corp Has $41.67 Million Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

State Street Corp increased its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,129,487 shares of the bank’s stock after acquiring an additional 21,345 shares during the quarter. State Street Corp owned approximately 4.63% of Brookline Bancorp worth $41,667,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. American Century Companies Inc. raised its holdings in shares of Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the period. Renaissance Technologies LLC raised its stake in Brookline Bancorp by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock worth $10,587,000 after buying an additional 59,317 shares during the period. Bank of New York Mellon Corp boosted its holdings in Brookline Bancorp by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock worth $9,868,000 after acquiring an additional 56,291 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Brookline Bancorp by 67.2% in the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after acquiring an additional 258,267 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Brookline Bancorp by 47.5% in the second quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after acquiring an additional 158,329 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Up 3.6 %

Shares of NASDAQ:BRKL opened at $11.94 on Friday. The business’s 50 day moving average is $11.88 and its 200 day moving average is $10.32. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 14.39 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 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 return on equity of 6.20% and a net margin of 11.40%. The business had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. During the same period last year, the business earned $0.26 EPS. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid 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 payout ratio is presently 65.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $12.00 to $14.50 in a research report on Wednesday, December 4th. 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 report on Friday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.17.

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.