Principal Financial Group Inc. Has $4.84 Million Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Principal Financial Group Inc. increased its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,698 shares of the bank’s stock after buying an additional 11,629 shares during the period. Principal Financial Group Inc. owned 0.49% of Brookline Bancorp worth $4,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Brookline Bancorp by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 57,132 shares of the bank’s stock valued at $674,000 after acquiring an additional 811 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Brookline Bancorp by 3.2% during the fourth quarter. LPL Financial LLC now owns 43,073 shares of the bank’s stock worth $508,000 after purchasing an additional 1,323 shares during the period. Illinois Municipal Retirement Fund increased its stake in Brookline Bancorp by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank’s stock worth $536,000 after acquiring an additional 1,573 shares during the period. WASHINGTON TRUST Co raised its stake in Brookline Bancorp by 5.9% in the first quarter. WASHINGTON TRUST Co now owns 33,396 shares of the bank’s stock valued at $364,000 after purchasing an additional 1,857 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Brookline Bancorp by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,139 shares of the bank’s stock worth $592,000 after purchasing an additional 1,859 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Trading Up 1.4%

NASDAQ:BRKL opened at $11.10 on Friday. The firm has a 50-day moving average of $10.66 and a 200-day moving average of $11.01. The company has a market cap of $989.12 million, a PE ratio of 13.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.09 and a quick ratio of 1.09. Brookline Bancorp, Inc. has a one year low of $9.24 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Brookline Bancorp had a return on equity of 6.32% and a net margin of 11.22%. The firm had revenue of $91.49 million during the quarter, compared to analysts’ expectations of $91.38 million. As a group, equities research analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.135 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 4.86%. Brookline Bancorp’s dividend payout ratio is presently 65.85%.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Brookline Bancorp in a report on Monday, May 19th. They set a “hold” rating on the stock.

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.