Clean Yield Group bought a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,700 shares of the bank’s stock, valued at approximately $51,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MetLife Investment Advisors LLC boosted its holdings in shares of Brookline Bancorp by 11.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 36,642 shares of the bank’s stock valued at $682,000 after buying an additional 3,641 shares during the last quarter. First Trust Advisors LP lifted its holdings in Brookline Bancorp by 3.5% during the 3rd quarter. First Trust Advisors LP now owns 142,323 shares of the bank’s stock valued at $2,377,000 after purchasing an additional 4,781 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Brookline Bancorp by 6.3% during the 3rd quarter. AQR Capital Management LLC now owns 89,928 shares of the bank’s stock valued at $1,502,000 after purchasing an additional 5,345 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Brookline Bancorp by 10.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 61,806 shares of the bank’s stock valued at $1,032,000 after purchasing an additional 6,013 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Brookline Bancorp by 4.9% during the 3rd quarter. Swiss National Bank now owns 140,100 shares of the bank’s stock valued at $2,340,000 after purchasing an additional 6,600 shares during the last quarter. 78.15% of the stock is owned by institutional investors and hedge funds.
NASDAQ:BRKL traded up $0.37 during trading hours on Friday, hitting $16.06. The company’s stock had a trading volume of 394,046 shares, compared to its average volume of 286,219. The firm has a market capitalization of $1.29 billion, a PE ratio of 15.01 and a beta of 0.91. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. Brookline Bancorp, Inc. has a twelve month low of $12.84 and a twelve month high of $19.35.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Stockholders of record on Monday, February 11th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Friday, February 8th. Brookline Bancorp’s payout ratio is 39.25%.
Brookline Bancorp declared that its board has approved a share buyback program on Thursday, December 6th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have weighed in on BRKL shares. Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research report on Wednesday. BidaskClub cut Brookline Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Zacks Investment Research upgraded Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, February 6th. Finally, Compass Point cut Brookline Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Brookline Bancorp has an average rating of “Hold” and an average price target of $17.50.
In other news, Director Charles H. Peck sold 12,000 shares of Brookline Bancorp stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $16.09, for a total transaction of $193,080.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.51% of the company’s stock.
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About Brookline Bancorp
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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