Intech Investment Management LLC Increases Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Intech Investment Management LLC increased its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 96.2% in the fourth quarter, Holdings Channel reports. The firm owned 125,592 shares of the bank’s stock after acquiring an additional 61,591 shares during the period. Intech Investment Management LLC’s holdings in Brookline Bancorp were worth $1,482,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after buying an additional 1,595 shares in the last quarter. FMR LLC lifted its holdings in Brookline Bancorp by 174.9% in the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after buying an additional 3,279 shares in the last quarter. KBC Group NV lifted its holdings in Brookline Bancorp by 60.3% in the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after buying an additional 2,421 shares in the last quarter. Townsquare Capital LLC acquired a new position in Brookline Bancorp in the 3rd quarter worth $111,000. Finally, iSAM Funds UK Ltd acquired a new position in Brookline Bancorp in the 3rd quarter worth $123,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Price Performance

BRKL opened at $10.86 on Friday. The firm has a market cap of $967.68 million, a price-to-earnings ratio of 14.10 and a beta of 0.78. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The company’s 50-day moving average price is $11.74 and its 200 day moving average price is $11.45. 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 released its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, sell-side analysts expect that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.97%. Brookline Bancorp’s dividend payout ratio (DPR) is 70.13%.

Analyst Ratings Changes

A number of brokerages have commented on BRKL. StockNews.com began coverage on shares of Brookline Bancorp in a report on Sunday, March 16th. They issued a “hold” rating on the stock. 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 note on Friday, December 20th. Finally, 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 note on Tuesday, December 24th.

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.