First Trust Advisors LP lowered its position in Brookline Bancorp Inc. (NASDAQ:BRKL) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 137,332 shares of the company’s stock after selling 4,623 shares during the period. First Trust Advisors LP owned 0.20% of Brookline Bancorp worth $1,515,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of Brookline Bancorp by 429.6% in the second quarter. GSA Capital Partners LLP now owns 86,923 shares of the company’s stock worth $959,000 after buying an additional 70,509 shares during the period. Hennessy Advisors Inc. boosted its position in shares of Brookline Bancorp by 3.8% in the second quarter. Hennessy Advisors Inc. now owns 810,000 shares of the company’s stock worth $8,934,000 after buying an additional 30,000 shares during the period. Polaris Capital Management LLC boosted its position in shares of Brookline Bancorp by 0.6% in the second quarter. Polaris Capital Management LLC now owns 924,191 shares of the company’s stock worth $10,194,000 after buying an additional 5,200 shares during the period. Jennison Associates LLC boosted its position in shares of Brookline Bancorp by 14.1% in the second quarter. Jennison Associates LLC now owns 50,460 shares of the company’s stock worth $557,000 after buying an additional 6,221 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Brookline Bancorp during the second quarter worth approximately $24,417,000. Institutional investors and hedge funds own 74.67% of the company’s stock.
Shares of Brookline Bancorp Inc. (NASDAQ:BRKL) traded up 0.17% during midday trading on Wednesday, hitting $12.06. The stock had a trading volume of 116,160 shares. The stock has a 50 day moving average of $11.76 and a 200-day moving average of $11.34. The company has a market cap of $850.42 million, a P/E ratio of 16.52 and a beta of 0.90. Brookline Bancorp Inc. has a one year low of $9.86 and a one year high of $12.11.
Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ 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 last year, the company earned $0.17 earnings per share. Analysts forecast that Brookline Bancorp Inc. will post $0.73 EPS for the current fiscal year.
A number of research firms have issued reports on BRKL. Compass Point increased their price target on Brookline Bancorp from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a research report on Friday, July 8th. Finally, Sandler O’Neill lowered Brookline Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $12.63.
In related news, General Counsel Michael W. Mccurdy sold 9,200 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.82% of the stock is owned by corporate 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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