Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Holds Stake in Brookline Bancorp, Inc. (BRKL)
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA continued to hold its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 112,212 shares of the bank’s stock at the end of the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.15% of Brookline Bancorp worth $1,666,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in BRKL. Stifel Financial Corp raised its position in shares of Brookline Bancorp by 169.3% in the first quarter. Stifel Financial Corp now owns 33,883 shares of the bank’s stock valued at $531,000 after buying an additional 21,303 shares during the period. Algebris Investments UK LLP purchased a new position in shares of Brookline Bancorp during the first quarter valued at $563,000. Geode Capital Management LLC raised its position in shares of Brookline Bancorp by 8.4% in the first quarter. Geode Capital Management LLC now owns 660,917 shares of the bank’s stock valued at $10,343,000 after buying an additional 51,313 shares during the period. Moody Aldrich Partners LLC raised its position in shares of Brookline Bancorp by 38.0% in the second quarter. Moody Aldrich Partners LLC now owns 96,155 shares of the bank’s stock valued at $1,404,000 after buying an additional 26,460 shares during the period. Finally, Karp Capital Management Corp purchased a new position in shares of Brookline Bancorp during the first quarter valued at $335,000. 71.41% of the stock is owned by institutional investors.
Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 14.45 on Friday. Brookline Bancorp, Inc. has a one year low of $11.07 and a one year high of $17.45. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.77 and a beta of 0.97. The firm’s 50-day moving average price is $14.47 and its 200 day moving average price is $14.79.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $58.08 million. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. On average, equities research analysts expect that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.49%. Brookline Bancorp’s dividend payout ratio is currently 46.75%.
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Several equities analysts have weighed in on the company. BidaskClub raised Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. Sandler O’Neill raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, August 21st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $15.00 price objective on shares of Brookline Bancorp in a report on Friday, July 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.83.
In other Brookline Bancorp news, General Counsel Michael W. Mccurdy sold 4,895 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $14.20, for a total value of $69,509.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.85% of the company’s stock.
Brookline Bancorp Company 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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