Deprince Race & Zollo Inc. Acquires 260,056 Shares of Brookline Bancorp Inc. (BRKL)
Deprince Race & Zollo Inc. increased its stake in Brookline Bancorp Inc. (NASDAQ:BRKL) by 18.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,668,511 shares of the company’s stock after buying an additional 260,056 shares during the period. Deprince Race & Zollo Inc.’s holdings in Brookline Bancorp were worth $18,404,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in BRKL. BlackRock Fund Advisors increased its stake in Brookline Bancorp by 0.3% in the first quarter. BlackRock Fund Advisors now owns 4,335,014 shares of the company’s stock valued at $47,729,000 after buying an additional 12,040 shares during the last quarter. Moody Aldrich Partners LLC increased its stake in Brookline Bancorp by 172.7% in the second quarter. Moody Aldrich Partners LLC now owns 232,522 shares of the company’s stock valued at $2,565,000 after buying an additional 147,252 shares during the last quarter. BlackRock Group LTD increased its stake in Brookline Bancorp by 5.9% in the first quarter. BlackRock Group LTD now owns 117,691 shares of the company’s stock valued at $1,296,000 after buying an additional 6,589 shares during the last quarter. Huntington Asset Advisors Inc. bought a new stake in Brookline Bancorp during the first quarter valued at $154,000. Finally, Norges Bank bought a new stake in Brookline Bancorp during the fourth quarter valued at $9,847,000. 74.67% of the stock is owned by institutional investors.
Brookline Bancorp Inc. (NASDAQ:BRKL) traded up 0.98% on Wednesday, reaching $12.32. 241,914 shares of the company’s stock were exchanged. The firm has a market capitalization of $868.76 million, a price-to-earnings ratio of 16.88 and a beta of 0.87. Brookline Bancorp Inc. has a 12 month low of $9.91 and a 12 month high of $12.36. The firm has a 50-day moving average of $11.88 and a 200-day moving average of $11.39.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Brookline Bancorp had a net margin of 20.27% and a return on equity of 7.59%. During the same quarter in the prior year, the company posted $0.17 earnings per share. On average, equities analysts expect that Brookline Bancorp Inc. will post $0.73 earnings per share for the current year.
Several research analysts have recently commented on BRKL shares. Compass Point lifted their price target on shares of Brookline Bancorp from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, July 21st. Keefe, Bruyette & Woods raised shares of Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target for the company in a report on Friday, July 8th. Finally, Sandler O’Neill lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target 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 shares were sold at an average price of $11.80, for a total transaction of $108,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.82% of the company’s stock.
About Brookline Bancorp
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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