Brandywine Global Investment Management LLC Grows Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Brandywine Global Investment Management LLC boosted its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,561 shares of the bank’s stock after purchasing an additional 2,199 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.17% of Brookline Bancorp worth $1,560,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its holdings in Brookline Bancorp by 16.6% in the 1st quarter. BlackRock Inc. now owns 13,012,406 shares of the bank’s stock worth $136,630,000 after buying an additional 1,848,069 shares in the last quarter. State Street Corp increased its stake in shares of Brookline Bancorp by 27.4% during the first quarter. State Street Corp now owns 4,327,813 shares of the bank’s stock valued at $45,442,000 after acquiring an additional 930,622 shares during the period. Norges Bank bought a new stake in shares of Brookline Bancorp in the 4th quarter worth $8,501,000. Invesco Ltd. boosted its holdings in Brookline Bancorp by 125.5% during the first quarter. Invesco Ltd. now owns 1,055,528 shares of the bank’s stock worth $16,698,000 after buying an additional 587,460 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Brookline Bancorp by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 5,712,823 shares of the bank’s stock worth $59,984,000 after acquiring an additional 371,124 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

Brookline Bancorp Price Performance

Shares of BRKL stock opened at $9.22 on Monday. The stock has a 50 day moving average of $9.88 and a two-hundred day moving average of $9.69. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.06. Brookline Bancorp, Inc. has a 12 month low of $7.00 and a 12 month high of $15.50. The company has a market capitalization of $817.54 million, a P/E ratio of 8.23 and a beta of 0.72.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, July 26th. The bank reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $91.50 million during the quarter, compared to the consensus estimate of $90.50 million. Brookline Bancorp had a return on equity of 10.06% and a net margin of 17.70%. As a group, equities analysts expect that Brookline Bancorp, Inc. will post 1.02 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.86%. The ex-dividend date was Thursday, August 10th. Brookline Bancorp’s dividend payout ratio is currently 48.21%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BRKL. Seaport Res Ptn reiterated a “buy” rating on shares of Brookline Bancorp in a research note on Tuesday, September 12th. StockNews.com initiated coverage on shares of Brookline Bancorp in a report on Thursday, August 17th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brookline Bancorp has a consensus rating of “Hold” and a consensus target price of $15.83.

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.