Exchange Traded Concepts LLC cut its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL – Free Report) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,953 shares of the bank’s stock after selling 1,530 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.05% of Brookline Bancorp worth $402,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in BRKL. Quarry LP increased its position in Brookline Bancorp by 337.3% in the first quarter. Quarry LP now owns 2,589 shares of the bank’s stock worth $27,000 after buying an additional 1,997 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Brookline Bancorp by 735.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,992 shares of the bank’s stock worth $42,000 after acquiring an additional 3,514 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Brookline Bancorp in the 1st quarter worth about $45,000. KBC Group NV lifted its position in Brookline Bancorp by 22.5% in the 1st quarter. KBC Group NV now owns 7,202 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Brookline Bancorp during the 2nd quarter valued at about $89,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. StockNews.com started coverage on Brookline Bancorp in a report on Thursday. They set a “sell” rating on the stock. Hovde Group assumed coverage on Brookline Bancorp in a research report on Wednesday, September 20th. They set an “outperform” rating and a $10.75 price target for the company. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Brookline Bancorp in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.58.
Brookline Bancorp Price Performance
Shares of NASDAQ BRKL opened at $8.83 on Friday. Brookline Bancorp, Inc. has a twelve month low of $7.00 and a twelve month high of $15.50. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $9.57 and a two-hundred day moving average of $9.44. The company has a market capitalization of $782.96 million, a price-to-earnings ratio of 7.88 and a beta of 0.72.
Brookline Bancorp (NASDAQ:BRKL – Get Free Report) last issued its earnings results on Wednesday, July 26th. The bank reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $90.50 million. Brookline Bancorp had a return on equity of 10.06% and a net margin of 17.70%. As a group, analysts expect that Brookline Bancorp, Inc. will post 1.02 earnings per share for the current fiscal year.
Brookline Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Thursday, August 10th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 48.21%.
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.
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