Jane Street Group LLC Increases Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Jane Street Group LLC raised its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 12.2% in the third quarter, Holdings Channel.com reports. The firm owned 196,979 shares of the bank’s stock after buying an additional 21,394 shares during the period. Jane Street Group LLC’s holdings in Brookline Bancorp were worth $1,988,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after purchasing an additional 3,279 shares during the period. Creative Planning acquired a new stake in Brookline Bancorp in the third quarter worth approximately $103,000. Townsquare Capital LLC bought a new stake in shares of Brookline Bancorp in the 3rd quarter worth approximately $111,000. Alta Wealth Advisors LLC bought a new position in shares of Brookline Bancorp in the third quarter valued at $117,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Brookline Bancorp during the third quarter valued at about $118,000. 78.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BRKL shares. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price 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 for the company in a report on Friday, December 20th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $11.96 on Wednesday. The firm has a market cap of $1.07 billion, a P/E ratio of 14.41 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. Brookline Bancorp, Inc. has a twelve month low of $8.01 and a twelve month high of $13.15. The firm’s 50-day simple moving average is $11.97 and its 200-day simple moving average is $10.42.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm 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 in the prior year, the business posted $0.26 earnings per share. As a group, research analysts expect that Brookline Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently declared 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. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

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.