New England Research & Management Inc. acquired a new stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,156 shares of the bank’s stock, valued at approximately $254,000.
Several other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Brookline Bancorp by 1.9% during the second quarter. PNC Financial Services Group Inc. now owns 23,832 shares of the bank’s stock valued at $346,000 after acquiring an additional 451 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Brookline Bancorp by 0.8% during the second quarter. Nationwide Fund Advisors now owns 116,690 shares of the bank’s stock valued at $1,704,000 after acquiring an additional 875 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Brookline Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after acquiring an additional 1,819 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Brookline Bancorp by 1.2% during the third quarter. California Public Employees Retirement System now owns 354,797 shares of the bank’s stock valued at $5,499,000 after acquiring an additional 4,111 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its stake in Brookline Bancorp by 9.6% in the second quarter. Pinebridge Investments L.P. now owns 48,020 shares of the bank’s stock worth $701,000 after buying an additional 4,187 shares in the last quarter. 77.63% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Paul A. Perrault sold 103,255 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total transaction of $1,516,815.95. Following the sale, the chief executive officer now owns 421,122 shares in the company, valued at $6,186,282.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hall II purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $309,600.00. The disclosure for this purchase can be found here. Insiders have sold 142,255 shares of company stock valued at $2,138,396 in the last ninety days. Insiders own 2.85% of the company’s stock.
Brookline Bancorp, Inc. (BRKL) opened at $16.00 on Wednesday. Brookline Bancorp, Inc. has a one year low of $13.60 and a one year high of $17.45. The firm has a market cap of $1,230.00, a P/E ratio of 20.51 and a beta of 0.97. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.21.
Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, October 18th. The bank reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. Brookline Bancorp had a net margin of 19.82% and a return on equity of 7.52%. The business had revenue of $62.82 million during the quarter, compared to the consensus estimate of $60.37 million. During the same quarter last year, the firm earned $0.19 earnings per share. equities research analysts expect that Brookline Bancorp, Inc. will post 0.8 EPS for the current fiscal year.
BRKL has been the subject of a number of research reports. Sandler O’Neill downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. BidaskClub downgraded shares of Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $16.50 price target on shares of Brookline Bancorp in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.33.
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Brookline Bancorp Profile
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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