Brookline Bancorp, Inc. (NASDAQ:BRKL) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 1.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,089,187 shares of the bank’s stock after acquiring an additional 26,714 shares during the quarter. Geode Capital Management LLC’s holdings in Brookline Bancorp were worth $21,084,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FMR LLC increased its position in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after purchasing an additional 3,279 shares during the period. Creative Planning bought a new position in Brookline Bancorp during the third quarter valued at about $103,000. Townsquare Capital LLC acquired a new position in Brookline Bancorp during the third quarter worth about $111,000. XTX Topco Ltd bought a new stake in Brookline Bancorp in the second quarter worth about $115,000. Finally, Point72 DIFC Ltd bought a new stake in Brookline Bancorp in the second quarter worth about $116,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Analysts Set New Price Targets

BRKL has been the subject of several research reports. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research report on Tuesday, December 24th. StockNews.com started coverage on shares of Brookline Bancorp in a report on Thursday. They set a “hold” rating for the company. Finally, Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Friday, December 20th.

Brookline Bancorp Trading Down 1.4 %

Shares of BRKL opened at $11.77 on Friday. The business’s 50-day moving average price is $12.04 and its 200 day moving average price is $10.48. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.05 billion, a P/E ratio of 14.18 and a beta of 0.78. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The company had revenue of $165.91 million during the quarter, compared to analysts’ expectations of $88.67 million. During the same period last year, the company posted $0.26 earnings per share. Analysts expect that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s payout ratio is 65.06%.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.