Brookline Bancorp, Inc. (BRKL) Stake Decreased by Citadel Advisors LLC
Citadel Advisors LLC decreased its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 51.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,558 shares of the bank’s stock after selling 86,748 shares during the quarter. Citadel Advisors LLC’s holdings in Brookline Bancorp were worth $1,296,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its position in Brookline Bancorp by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 28,710 shares of the bank’s stock worth $445,000 after acquiring an additional 10,630 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Brookline Bancorp by 11.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 365,963 shares of the bank’s stock worth $5,673,000 after acquiring an additional 38,745 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Brookline Bancorp during the 3rd quarter worth about $252,000. Wells Fargo & Company MN lifted its position in Brookline Bancorp by 4.4% during the 3rd quarter. Wells Fargo & Company MN now owns 293,704 shares of the bank’s stock worth $4,552,000 after acquiring an additional 12,409 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Brookline Bancorp by 8.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 105,252 shares of the bank’s stock worth $1,632,000 after acquiring an additional 8,131 shares during the period. 77.74% of the stock is owned by institutional investors.
A number of brokerages have commented on BRKL. Piper Jaffray Companies reaffirmed a “hold” rating and set a $16.50 price target on shares of Brookline Bancorp in a research report on Tuesday, January 9th. BidaskClub cut Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, January 31st. The bank reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Brookline Bancorp had a return on equity of 7.58% and a net margin of 17.11%. The company had revenue of $63.47 million during the quarter, compared to analysts’ expectations of $61.22 million. During the same quarter in the previous year, the firm posted $0.19 EPS. equities analysts forecast that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.36 dividend on an annualized basis and a yield of 2.21%. Brookline Bancorp’s dividend payout ratio is currently 52.94%.
In other news, Director Charles H. Peck sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $16.43, for a total value of $164,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James M. Cosman sold 12,500 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $16.76, for a total value of $209,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,500 shares of company stock valued at $1,040,850. 2.85% of the stock is currently owned by insiders.
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Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.
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