Intech Investment Management LLC Raises Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Intech Investment Management LLC raised its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 96.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,592 shares of the bank’s stock after buying an additional 61,591 shares during the period. Intech Investment Management LLC owned approximately 0.14% of Brookline Bancorp worth $1,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BRKL. JPMorgan Chase & Co. increased its stake in shares of Brookline Bancorp by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after purchasing an additional 338,050 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Brookline Bancorp by 36.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock worth $10,369,000 after purchasing an additional 236,066 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Brookline Bancorp by 7.7% during the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after purchasing an additional 224,888 shares in the last quarter. Barclays PLC increased its stake in shares of Brookline Bancorp by 99.8% during the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after purchasing an additional 106,345 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $744,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Down 0.5 %

Shares of BRKL opened at $10.86 on Friday. The firm has a market cap of $967.68 million, a PE ratio of 14.10 and a beta of 0.78. The company’s fifty day moving average is $11.74 and its two-hundred day moving average is $11.45. 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 quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.135 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.97%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Analysts Set New Price Targets

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

Brookline Bancorp 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.