Boston Advisors LLC Holds Position in Brookline Bancorp Inc. (BRKL)
Boston Advisors LLC held its stake in Brookline Bancorp Inc. (NASDAQ:BRKL) during the second quarter, Holdings Channel reports. The firm owned 98,304 shares of the company’s stock at the end of the second quarter. Boston Advisors LLC’s holdings in Brookline Bancorp were worth $1,084,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Brookline Bancorp during the second quarter worth $1,659,000. Hartford Investment Management Co. purchased a new stake in Brookline Bancorp during the second quarter worth $154,000. GWM Advisors LLC increased its stake in Brookline Bancorp by 1.2% in the second quarter. GWM Advisors LLC now owns 14,872 shares of the company’s stock worth $164,000 after buying an additional 180 shares in the last quarter. First Manhattan Co. boosted its position in Brookline Bancorp by 10.5% in the second quarter. First Manhattan Co. now owns 198,074 shares of the company’s stock worth $2,184,000 after buying an additional 18,900 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Brookline Bancorp by 107.6% in the second quarter. BNP Paribas Arbitrage SA now owns 21,935 shares of the company’s stock worth $242,000 after buying an additional 11,370 shares during the last quarter. 74.67% of the stock is owned by institutional investors and hedge funds.
Brookline Bancorp Inc. (NASDAQ:BRKL) traded up 1.41% during midday trading on Friday, reaching $12.19. The company had a trading volume of 154,831 shares. The company has a 50-day moving average of $11.82 and a 200-day moving average of $11.36. The stock has a market capitalization of $859.59 million, a PE ratio of 16.70 and a beta of 0.90. Brookline Bancorp Inc. has a 12-month low of $9.91 and a 12-month high of $12.23.
Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share (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 quarter in the previous year, the firm earned $0.17 EPS. On average, analysts predict 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 stock a “buy” rating in a report on Thursday, July 21st. Keefe, Bruyette & Woods upgraded Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a report on Friday, July 8th. Finally, Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Brookline Bancorp currently has a consensus rating of “Buy” and a consensus price target of $12.63.
In other news, General Counsel Michael W. Mccurdy sold 9,200 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $11.80, for a total transaction of $108,560.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.82% of the company’s stock.
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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