Ipswich Investment Management Co. Inc. decreased its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 63.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,085 shares of the bank’s stock after selling 58,900 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Brookline Bancorp were worth $498,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Brookline Bancorp by 49,990.5% in the first quarter. BlackRock Inc. now owns 8,736,778 shares of the bank’s stock worth $136,731,000 after buying an additional 8,719,336 shares during the last quarter. Norges Bank purchased a new position in shares of Brookline Bancorp during the fourth quarter worth approximately $15,746,000. Monarch Partners Asset Management LLC purchased a new position in shares of Brookline Bancorp during the first quarter worth approximately $4,921,000. Vanguard Group Inc. boosted its position in shares of Brookline Bancorp by 4.8% in the first quarter. Vanguard Group Inc. now owns 6,554,341 shares of the bank’s stock worth $102,576,000 after buying an additional 298,105 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Brookline Bancorp by 11.4% in the first quarter. State Street Corp now owns 2,324,180 shares of the bank’s stock worth $36,377,000 after buying an additional 237,230 shares during the last quarter. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Brookline Bancorp, Inc. (NASDAQ BRKL) traded up 0.182% during mid-day trading on Friday, reaching $13.775. The company had a trading volume of 309,805 shares. The firm has a 50-day moving average price of $14.54 and a 200 day moving average price of $14.84. Brookline Bancorp, Inc. has a 12-month low of $11.07 and a 12-month high of $17.45. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 17.890 and a beta of 0.97.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $60.10 million during the quarter, compared to the consensus estimate of $58.08 million. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. Analysts expect that Brookline Bancorp, Inc. will post $0.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Wednesday, August 9th. Brookline Bancorp’s dividend payout ratio (DPR) is 46.75%.
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A number of analysts recently weighed in on BRKL shares. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.00 to $16.50 in a report on Thursday, April 27th. BidaskClub downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $15.00 price objective on shares of Brookline Bancorp in a report on Friday, July 14th.
In other news, General Counsel Michael W. Mccurdy sold 4,895 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $14.20, for a total transaction of $69,509.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.85% of the company’s stock.
About Brookline Bancorp
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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