Public Sector Pension investment Board Has $579,000 Stake in Brookline Bancorp, Inc. (BRKL)
Public Sector Pension investment Board lessened its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 20.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,624 shares of the bank’s stock after selling 10,500 shares during the quarter. Public Sector Pension investment Board owned approximately 0.05% of Brookline Bancorp worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of BRKL. BlackRock Inc. boosted its stake in shares of Brookline Bancorp by 49,990.5% during the 1st quarter. BlackRock Inc. now owns 8,736,778 shares of the bank’s stock worth $136,731,000 after acquiring an additional 8,719,336 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Brookline Bancorp by 1,864.0% during the 2nd quarter. Jennison Associates LLC now owns 902,960 shares of the bank’s stock worth $13,183,000 after acquiring an additional 856,984 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Brookline Bancorp during the 2nd quarter worth $7,070,000. Vanguard Group Inc. boosted its stake in shares of Brookline Bancorp by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 6,554,341 shares of the bank’s stock worth $102,576,000 after acquiring an additional 298,105 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Brookline Bancorp by 11.4% during the 1st quarter. State Street Corp now owns 2,324,180 shares of the bank’s stock worth $36,377,000 after acquiring an additional 237,230 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
Brookline Bancorp, Inc. (BRKL) opened at 15.85 on Monday. The stock has a market cap of $1.21 billion, a PE ratio of 20.58 and a beta of 0.98. The company’s 50 day moving average is $14.62 and its 200-day moving average is $14.58. Brookline Bancorp, Inc. has a 1-year low of $12.05 and a 1-year high of $17.45.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $60.10 million for the quarter, compared to analyst estimates of $58.08 million. Brookline Bancorp had a net margin of 19.64% and a return on equity of 7.56%. The firm’s revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. Equities research analysts forecast that Brookline Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
BRKL has been the topic of a number of analyst reports. BidaskClub cut shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies restated a “hold” rating and set a $15.00 target price on shares of Brookline Bancorp in a research note on Friday, July 14th. Finally, Sandler O’Neill upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Monday, August 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.83.
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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