Nationwide Fund Advisors raised its stake in Brookline Bancorp Inc. (NASDAQ:BRKL) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 205,862 shares of the company’s stock after buying an additional 1,263 shares during the period. Nationwide Fund Advisors owned approximately 0.29% of Brookline Bancorp worth $2,271,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Suntrust Banks Inc. increased its position in Brookline Bancorp by 5.8% in the second quarter. Suntrust Banks Inc. now owns 11,368 shares of the company’s stock valued at $125,000 after buying an additional 622 shares in the last quarter. Legal & General Group Plc increased its position in Brookline Bancorp by 14.5% in the first quarter. Legal & General Group Plc now owns 11,953 shares of the company’s stock valued at $132,000 after buying an additional 1,518 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new position in Brookline Bancorp during the first quarter valued at approximately $154,000. Hartford Investment Management Co. purchased a new position in Brookline Bancorp during the second quarter valued at approximately $154,000. Finally, GWM Advisors LLC increased its position in Brookline Bancorp by 1.2% in the second quarter. GWM Advisors LLC now owns 14,872 shares of the company’s stock valued at $164,000 after buying an additional 180 shares in the last quarter. 74.67% of the stock is owned by institutional investors and hedge funds.
Shares of Brookline Bancorp Inc. (NASDAQ:BRKL) traded up 0.5191% during mid-day trading on Wednesday, reaching $12.3538. The company’s stock had a trading volume of 15,360 shares. The firm has a market capitalization of $871.14 million, a P/E ratio of 16.9230 and a beta of 0.87. Brookline Bancorp Inc. has a 1-year low of $9.91 and a 1-year high of $12.44. The company’s 50-day moving average is $11.97 and its 200 day moving average is $11.43.
Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Brookline Bancorp had a return on equity of 7.59% and a net margin of 20.27%. During the same period in the prior year, the company posted $0.17 EPS. On average, analysts expect that Brookline Bancorp Inc. will post $0.73 earnings per share for the current year.
Several research firms recently commented on BRKL. Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research note on Friday, July 8th. Compass Point increased their price objective on Brookline Bancorp from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $12.63.
In related news, General Counsel Michael W. Mccurdy sold 9,200 shares of Brookline Bancorp stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $11.80, for a total value of $108,560.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.82% of the stock is owned by company insiders.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England.
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