Principal Financial Group Inc. Cuts Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Principal Financial Group Inc. decreased its position in Brookline Bancorp, Inc. (NASDAQ:BRKLFree Report) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,408 shares of the bank’s stock after selling 21,016 shares during the quarter. Principal Financial Group Inc. owned 0.54% of Brookline Bancorp worth $4,358,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC lifted its position in Brookline Bancorp by 199.0% in the 3rd quarter. Jennison Associates LLC now owns 3,623,321 shares of the bank’s stock valued at $33,008,000 after purchasing an additional 2,411,481 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Brookline Bancorp by 7.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock worth $322,000 after buying an additional 2,373 shares during the period. Advisor Partners II LLC bought a new position in Brookline Bancorp in the 3rd quarter worth approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brookline Bancorp by 70.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,472 shares of the bank’s stock valued at $150,000 after acquiring an additional 6,825 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Brookline Bancorp by 46.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,915 shares of the bank’s stock valued at $136,000 after acquiring an additional 4,728 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

Brookline Bancorp Stock Down 1.0 %

Brookline Bancorp stock opened at $9.84 on Thursday. The firm’s 50 day moving average price is $10.61 and its two-hundred day moving average price is $9.81. The firm has a market cap of $874.44 million, a PE ratio of 11.44 and a beta of 0.78. Brookline Bancorp, Inc. has a twelve month low of $7.00 and a twelve month high of $13.77. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.07 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKLGet Free Report) last issued its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a return on equity of 7.87% and a net margin of 12.31%. During the same period in the prior year, the firm posted $0.39 EPS. On average, research analysts predict that Brookline Bancorp, Inc. will post 0.97 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, February 8th. Brookline Bancorp’s dividend payout ratio is 62.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.88.

Get Our Latest Analysis on Brookline Bancorp

Brookline Bancorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Brookline Bancorp (NASDAQ:BRKL)

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