Ameriprise Financial Inc. Has $8.17 Million Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Ameriprise Financial Inc. increased its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 692,452 shares of the bank’s stock after acquiring an additional 62,215 shares during the quarter. Ameriprise Financial Inc. owned about 0.78% of Brookline Bancorp worth $8,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRKL. Sterling Capital Management LLC increased its holdings in Brookline Bancorp by 805.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock worth $33,000 after purchasing an additional 2,513 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Brookline Bancorp in the fourth quarter worth approximately $72,000. KBC Group NV increased its holdings in Brookline Bancorp by 60.3% in the fourth quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after purchasing an additional 2,421 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Brookline Bancorp in the fourth quarter worth approximately $129,000. Finally, Semanteon Capital Management LP bought a new stake in Brookline Bancorp in the fourth quarter worth approximately $133,000. 78.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Brookline Bancorp in a report on Monday. They issued a “hold” rating for the company.

Brookline Bancorp Trading Down 3.5%

Shares of BRKL stock opened at $10.56 on Thursday. The company has a market cap of $940.95 million, a P/E ratio of 13.71 and a beta of 0.88. The stock has a 50 day simple moving average of $10.49 and a two-hundred day simple moving average of $11.49. 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 fifty-two week low of $8.01 and a fifty-two week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released 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 firm had revenue of $91.49 million for 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%. Research analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued 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 5.11%. Brookline Bancorp’s dividend payout ratio is 65.85%.

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.