BNP Paribas Arbitrage SA Has $349,000 Holdings in Brookline Bancorp, Inc. (BRKL)
BNP Paribas Arbitrage SA raised its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 63.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,900 shares of the bank’s stock after buying an additional 9,262 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Brookline Bancorp were worth $349,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Comerica Bank increased its holdings in Brookline Bancorp by 4.4% in the 2nd quarter. Comerica Bank now owns 147,281 shares of the bank’s stock valued at $2,165,000 after buying an additional 6,164 shares during the period. Legal & General Group Plc increased its holdings in Brookline Bancorp by 25.0% in the 2nd quarter. Legal & General Group Plc now owns 146,735 shares of the bank’s stock valued at $2,142,000 after buying an additional 29,343 shares during the period. Alpine Woods Capital Investors LLC increased its holdings in Brookline Bancorp by 20.0% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after buying an additional 2,000 shares during the period. Rhumbline Advisers increased its holdings in Brookline Bancorp by 5.3% in the 2nd quarter. Rhumbline Advisers now owns 153,870 shares of the bank’s stock valued at $2,247,000 after buying an additional 7,778 shares during the period. Finally, Monarch Partners Asset Management LLC increased its holdings in Brookline Bancorp by 39.4% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 438,369 shares of the bank’s stock valued at $6,400,000 after buying an additional 123,945 shares during the period. 78.12% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on BRKL shares. BidaskClub lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 price target on shares of Brookline Bancorp in a report on Friday, July 14th. Finally, Sandler O’Neill raised shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, August 21st. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.83.
Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 14.55 on Tuesday. Brookline Bancorp, Inc. has a 52 week low of $11.70 and a 52 week high of $17.45. The firm has a market cap of $1.11 billion, a P/E ratio of 18.90 and a beta of 0.98. The stock has a 50 day moving average of $14.26 and a 200 day moving average of $14.60.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $58.08 million. Brookline Bancorp had a return on equity of 7.56% and a net margin of 19.64%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Analysts anticipate that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, August 9th. Brookline Bancorp’s payout ratio is 46.75%.
Brookline Bancorp 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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