Brookline Bancorp Inc. (BRKL) Plans $0.09 Quarterly Dividend
Brookline Bancorp Inc. (NASDAQ:BRKL) declared a quarterly dividend on Wednesday, October 19th. Shareholders of record on Friday, November 4th will be given a dividend of 0.09 per share on Friday, November 18th. This represents a $0.36 dividend on an annualized basis and a yield of 2.90%.
Brookline Bancorp (NASDAQ:BRKL) traded up 0.81% during trading on Wednesday, reaching $12.40. 134,141 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $12.04 and its 200-day moving average price is $11.47. Brookline Bancorp has a 52-week low of $9.91 and a 52-week high of $12.50. The company has a market capitalization of $874.40 million, a price-to-earnings ratio of 16.99 and a beta of 0.87.
In related news, General Counsel Michael W. Mccurdy sold 9,200 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $11.80, for a total value of $108,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.82% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its position in shares of Brookline Bancorp by 1.4% in the second quarter. Parametric Portfolio Associates LLC now owns 275,580 shares of the company’s stock worth $3,040,000 after buying an additional 3,854 shares during the period. State Street Corp raised its position in shares of Brookline Bancorp by 1.6% in the second quarter. State Street Corp now owns 1,856,196 shares of the company’s stock worth $20,475,000 after buying an additional 29,348 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Brookline Bancorp by 7.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 665,406 shares of the company’s stock worth $7,339,000 after buying an additional 44,204 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Brookline Bancorp by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 365,980 shares of the company’s stock worth $4,037,000 after buying an additional 1,600 shares during the period. Finally, Profund Advisors LLC raised its position in shares of Brookline Bancorp by 0.6% in the second quarter. Profund Advisors LLC now owns 14,962 shares of the company’s stock worth $165,000 after buying an additional 90 shares during the period. Institutional investors own 74.66% of the company’s stock.
Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Brookline Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a report on Friday, July 8th. Compass Point boosted their target price on Brookline Bancorp from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.63.
About Brookline Bancorp
Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England.
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