Connor Clark & Lunn Investment Management Ltd. Buys 30,073 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 50.7% during the fourth quarter, HoldingsChannel reports. The firm owned 89,406 shares of the bank’s stock after acquiring an additional 30,073 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookline Bancorp were worth $1,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in shares of Brookline Bancorp by 124.2% during the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after purchasing an additional 1,595 shares in the last quarter. KBC Group NV increased its holdings in shares of Brookline Bancorp by 60.3% during the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after acquiring an additional 2,421 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Brookline Bancorp by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 64,734 shares of the bank’s stock worth $653,000 after acquiring an additional 2,730 shares during the last quarter. FMR LLC increased its holdings in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Brookline Bancorp by 1.5% during the 4th quarter. Rhumbline Advisers now owns 276,256 shares of the bank’s stock worth $3,260,000 after acquiring an additional 4,125 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Brookline Bancorp Stock Performance

Shares of NASDAQ BRKL opened at $10.91 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The stock’s fifty day moving average price is $11.75 and its two-hundred day moving average price is $11.44. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $13.15. The firm has a market cap of $972.14 million, a price-to-earnings ratio of 14.17 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last released its 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%. On average, equities analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.95%. Brookline Bancorp’s payout ratio is 70.13%.

About Brookline Bancorp

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.