Northern Trust Corp Raises Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Northern Trust Corp grew its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 908,872 shares of the bank’s stock after purchasing an additional 52,183 shares during the period. Northern Trust Corp owned approximately 1.02% of Brookline Bancorp worth $10,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in Brookline Bancorp by 99.8% during the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after buying an additional 106,345 shares during the period. Franklin Resources Inc. bought a new position in Brookline Bancorp during the 4th quarter worth approximately $710,000. Jennison Associates LLC lifted its holdings in shares of Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after purchasing an additional 224,888 shares during the last quarter. American Century Companies Inc. raised its stake in Brookline Bancorp by 17.0% during the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank’s stock valued at $22,465,000 after acquiring an additional 276,025 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Brookline Bancorp by 96.2% during the 4th quarter. Intech Investment Management LLC now owns 125,592 shares of the bank’s stock valued at $1,482,000 after acquiring an additional 61,591 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Brookline Bancorp in a research report on Sunday, May 11th. They set a “hold” rating on the stock.

Brookline Bancorp Stock Performance

Shares of BRKL stock opened at $11.04 on Friday. The stock’s fifty day simple moving average is $10.49 and its 200-day simple moving average is $11.50. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $13.15. The company has a market capitalization of $993.16 million, a price-to-earnings ratio of 14.34 and a beta of 0.88.

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

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 4.89%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.85%.

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.