American Century Companies Inc. Boosts Holdings in Brookline Bancorp, Inc. $BRKL

American Century Companies Inc. raised its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,039,038 shares of the bank’s stock after acquiring an additional 135,225 shares during the quarter. American Century Companies Inc. owned approximately 2.27% of Brookline Bancorp worth $22,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BRKL. Pinney & Scofield Inc. purchased a new position in Brookline Bancorp during the 4th quarter valued at about $35,000. PNC Financial Services Group Inc. increased its holdings in Brookline Bancorp by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank’s stock valued at $53,000 after acquiring an additional 1,199 shares in the last quarter. Focus Partners Wealth purchased a new position in Brookline Bancorp during the 4th quarter valued at about $121,000. Emerald Mutual Fund Advisers Trust purchased a new position in Brookline Bancorp during the 4th quarter valued at about $129,000. Finally, Bank of Montreal Can purchased a new position in Brookline Bancorp in the 4th quarter valued at about $138,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Up 5.1%

BRKL opened at $11.16 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $994.47 million, a price-to-earnings ratio of 12.54 and a beta of 0.91. The business has a 50-day moving average of $10.67 and a two-hundred day moving average of $10.77. Brookline Bancorp, Inc. has a 12 month low of $9.28 and a 12 month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $94.66 million during the quarter, compared to analysts’ expectations of $94.90 million. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. On average, research analysts expect that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 4.8%. Brookline Bancorp’s payout ratio is 60.67%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Brookline Bancorp to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.25.

Insider Buying and Selling

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of Brookline Bancorp stock in a transaction dated Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total value of $38,683.64. Following the completion of the sale, the insider owned 44,322 shares in the company, valued at $455,630.16. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is owned by company insiders.

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.