Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,070 shares of the bank’s stock after selling 19,363 shares during the quarter. Principal Financial Group Inc.’s holdings in Brookline Bancorp were worth $4,228,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Brookline Bancorp by 99.8% during the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after purchasing an additional 106,345 shares during the period. American Century Companies Inc. boosted its position 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 worth $11,951,000 after buying an additional 249,113 shares during the period. Jane Street Group LLC boosted its position in shares of Brookline Bancorp by 12.2% during the third quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock worth $1,988,000 after buying an additional 21,394 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 valued at $599,000 after buying an additional 47,094 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Brookline Bancorp in the 3rd quarter valued at $432,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Wall Street Analysts Forecast Growth

BRKL has been the subject of several research reports. 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 report on Tuesday, December 24th. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Friday, December 20th. Finally, StockNews.com started coverage on shares of Brookline Bancorp in a report on Friday. They set a “hold” rating on the stock.

Brookline Bancorp Stock Performance

Shares of BRKL opened at $11.60 on Friday. The company’s 50 day simple moving average is $12.14 and its 200-day simple moving average is $10.56. The firm has a market cap of $1.03 billion, a PE ratio of 13.98 and a beta of 0.78. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. 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 (NASDAQ:BRKL) last released 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. 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 analyst estimates of $88.67 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, equities analysts predict that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.66%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

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.