Bessemer Group Inc. increased its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 24.5% during the second quarter, HoldingsChannel reports. The firm owned 114,400 shares of the bank’s stock after buying an additional 22,500 shares during the period. Bessemer Group Inc.’s holdings in Brookline Bancorp were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Moors & Cabot Inc. lifted its holdings in shares of Brookline Bancorp by 11.6% during the second quarter. Moors & Cabot Inc. now owns 61,684 shares of the bank’s stock valued at $946,000 after purchasing an additional 6,415 shares in the last quarter. CWM Advisors LLC increased its position in Brookline Bancorp by 8.3% in the second quarter. CWM Advisors LLC now owns 11,830 shares of the bank’s stock worth $182,000 after buying an additional 910 shares in the last quarter. Canton Hathaway LLC increased its position in Brookline Bancorp by 0.9% in the second quarter. Canton Hathaway LLC now owns 381,152 shares of the bank’s stock worth $5,862,000 after buying an additional 3,500 shares in the last quarter. First Trust Advisors LP increased its position in Brookline Bancorp by 73.4% in the first quarter. First Trust Advisors LP now owns 148,005 shares of the bank’s stock worth $2,131,000 after buying an additional 62,666 shares in the last quarter. Finally, Context BH Capital Management LP purchased a new stake in Brookline Bancorp in the first quarter worth about $1,534,000. 76.73% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on BRKL shares. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub cut Xilinx from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. ValuEngine cut Willdan Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Piper Jaffray Companies raised Brookline Bancorp from a “neutral” rating to an “overweight” rating and increased their price target for the company from $15.50 to $17.00 in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.38.
In other news, insider Mark J. Meiklejohn sold 23,335 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.04, for a total value of $350,958.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael W. Mccurdy sold 2,574 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $14.89, for a total value of $38,326.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,979 shares of company stock valued at $405,539. 2.54% of the stock is owned by corporate insiders.
Brookline Bancorp stock traded up $0.18 during midday trading on Friday, reaching $14.69. 10,012 shares of the stock traded hands, compared to its average volume of 199,230. The business’s fifty day moving average price is $14.92. Brookline Bancorp, Inc. has a 12 month low of $12.84 and a 12 month high of $19.00. The company has a market cap of $1.20 billion, a PE ratio of 13.73 and a beta of 0.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.99.
Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Brookline Bancorp had a net margin of 23.77% and a return on equity of 9.64%. The firm had revenue of $70.61 million for the quarter, compared to the consensus estimate of $71.30 million. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, research analysts predict that Brookline Bancorp, Inc. will post 1.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, August 8th. Brookline Bancorp’s payout ratio is presently 41.12%.
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, as well as commercial, municipal, and retail deposits.
Further Reading: Bear Market
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