Invesco Ltd. Has $10.20 Million Stake in Brookline Bancorp, Inc. $BRKL

Invesco Ltd. lowered its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 10.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 935,893 shares of the bank’s stock after selling 106,037 shares during the period. Invesco Ltd. owned approximately 1.04% of Brookline Bancorp worth $10,201,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Citigroup Inc. boosted its stake in Brookline Bancorp by 157.0% during the 1st quarter. Citigroup Inc. now owns 1,968,304 shares of the bank’s stock valued at $21,455,000 after purchasing an additional 1,202,542 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Brookline Bancorp by 54.2% in the 1st quarter. Deutsche Bank AG now owns 115,508 shares of the bank’s stock worth $1,259,000 after buying an additional 40,605 shares during the last quarter. ABC Arbitrage SA grew its holdings in shares of Brookline Bancorp by 2.9% in the first quarter. ABC Arbitrage SA now owns 61,656 shares of the bank’s stock valued at $672,000 after acquiring an additional 1,745 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Brookline Bancorp by 32.4% in the first 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. Finally, Jefferies Financial Group Inc. bought a new position in shares of Brookline Bancorp in the first quarter valued at approximately $1,535,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Brookline Bancorp to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Brookline Bancorp presently has a consensus rating of “Buy” and a consensus target price of $15.25.

Insider Activity at Brookline Bancorp

In other news, insider Janytra M. Brooks sold 3,763 shares of the business’s stock in a transaction on Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total transaction of $38,683.64. Following the sale, the insider owned 44,322 shares in the company, valued at approximately $455,630.16. The trade was a 7.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.55% of the company’s stock.

Brookline Bancorp Price Performance

Brookline Bancorp stock opened at $11.16 on Monday. Brookline Bancorp, Inc. has a 12 month low of $9.28 and a 12 month high of $13.15. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.92. The business’s 50 day simple moving average is $10.67 and its 200 day simple moving average is $10.76. The company has a market cap of $994.47 million, a price-to-earnings ratio of 12.54 and a beta of 0.91.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%.The company had revenue of $94.66 million for the quarter, compared to the consensus estimate of $94.90 million. Sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

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

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.