Norges Bank purchased a new stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 924,888 shares of the bank’s stock, valued at approximately $12,782,000.
Other institutional investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its stake in Brookline Bancorp by 31.5% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,874 shares of the bank’s stock valued at $40,000 after buying an additional 688 shares during the last quarter. Clean Yield Group purchased a new stake in Brookline Bancorp in the fourth quarter valued at about $51,000. Quantamental Technologies LLC purchased a new stake in Brookline Bancorp in the fourth quarter valued at about $51,000. Acadian Asset Management LLC purchased a new stake in Brookline Bancorp in the fourth quarter valued at about $58,000. Finally, Magnus Financial Group LLC purchased a new stake in Brookline Bancorp in the fourth quarter valued at about $150,000. Institutional investors own 76.34% of the company’s stock.
Shares of BRKL stock opened at $14.98 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.20 billion, a PE ratio of 14.00 and a beta of 0.91. Brookline Bancorp, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $19.35.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.11 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from Brookline Bancorp’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.94%. Brookline Bancorp’s dividend payout ratio is currently 39.25%.
BRKL has been the subject of a number of research analyst reports. Compass Point cut Brookline Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 8th. BidaskClub cut Brookline Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 14th. Zacks Investment Research upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. ValuEngine cut Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Sandler O’Neill cut Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.50.
In other news, Director Charles H. Peck sold 12,000 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $16.09, for a total value of $193,080.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.54% of the stock is currently owned by corporate insiders.
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Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts, as well as commercial, municipal, and retail deposits.
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