Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,415 shares of the bank’s stock after selling 2,090 shares during the quarter. Raymond James & Associates’ holdings in Brookline Bancorp were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of Brookline Bancorp by 199.0% during the 3rd quarter. Jennison Associates LLC now owns 3,623,321 shares of the bank’s stock valued at $33,008,000 after acquiring an additional 2,411,481 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Brookline Bancorp by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,487,227 shares of the bank’s stock valued at $31,769,000 after acquiring an additional 41,924 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Brookline Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock valued at $9,379,000 after acquiring an additional 63,039 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Brookline Bancorp by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 789,531 shares of the bank’s stock valued at $7,193,000 after acquiring an additional 92,291 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Brookline Bancorp by 2.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 458,591 shares of the bank’s stock valued at $4,178,000 after acquiring an additional 9,383 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Stock Down 11.7 %

Shares of BRKL opened at $8.42 on Friday. The firm has a market cap of $754.85 million, a P/E ratio of 9.79 and a beta of 0.75. Brookline Bancorp, Inc. has a 12-month low of $7.00 and a 12-month high of $11.52. The company’s 50-day moving average price is $9.55 and its 200 day moving average price is $9.78. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. During the same period in the previous year, the firm earned $0.39 EPS. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BRKL shares. StockNews.com raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Piper Sandler restated an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Brookline Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

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.