Raymond James Financial Inc. Acquires New Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Raymond James Financial Inc. bought a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,060 shares of the bank’s stock, valued at approximately $744,000. Raymond James Financial Inc. owned 0.07% of Brookline Bancorp at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in shares of Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after buying an additional 1,595 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Brookline Bancorp during the 4th quarter worth approximately $72,000. KBC Group NV grew its stake in shares of Brookline Bancorp by 60.3% during the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after acquiring an additional 2,421 shares in the last quarter. Semanteon Capital Management LP bought a new stake in shares of Brookline Bancorp in the fourth quarter worth $133,000. Finally, Bank of Montreal Can bought a new stake in Brookline Bancorp during the 4th quarter worth about $138,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Down 1.3 %

Shares of BRKL opened at $10.62 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. Brookline Bancorp, Inc. has a 52-week low of $8.01 and a 52-week high of $13.15. The firm has a market cap of $955.38 million, a price-to-earnings ratio of 13.79 and a beta of 0.88. The business’s fifty day moving average is $10.54 and its 200-day moving average is $11.50.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $91.49 million during the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Equities analysts anticipate that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Friday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.85%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Brookline Bancorp in a report on Saturday. They set a “hold” rating for the company.

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.