Connor Clark & Lunn Investment Management Ltd. Has $1.06 Million Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Connor Clark & Lunn Investment Management Ltd. increased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 50.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,406 shares of the bank’s stock after purchasing an additional 30,073 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Brookline Bancorp worth $1,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of Brookline Bancorp by 124.2% during the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after buying an additional 1,595 shares during the period. FMR LLC grew 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 worth $52,000 after buying an additional 3,279 shares during the period. KBC Group NV grew its position in shares of Brookline Bancorp by 60.3% during the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after buying an additional 2,421 shares during the period. Townsquare Capital LLC acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth about $111,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth about $123,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a research report on Tuesday, December 24th. Finally, StockNews.com began coverage on Brookline Bancorp in a report on Sunday, March 16th. They set a “hold” rating on the stock.

Brookline Bancorp Trading Down 0.8 %

NASDAQ:BRKL opened at $10.91 on Friday. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market capitalization of $972.14 million, a PE ratio of 14.17 and a beta of 0.78. The business’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $11.44.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Sell-side analysts expect that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, February 14th. Brookline Bancorp’s dividend payout ratio is currently 70.13%.

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.