Brookline Bancorp, Inc. $BRKL Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Brookline Bancorp by 7.1%, owning over 2 million shares valued at approximately $22.2 million as of the latest SEC filing.
• Brookline Bancorp declared a quarterly dividend of $0.135 per share, representing an annualized dividend yield of 4.8% with a payout ratio of 60.67%.
• The stock price of Brookline Bancorp rose 5.1%, with analysts maintaining an average rating of "Buy" and a target price of $15.25.

American Century Companies Inc. increased its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,039,038 shares of the bank's stock after buying an additional 135,225 shares during the period. American Century Companies Inc. owned about 2.27% of Brookline Bancorp worth $22,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Brookline Bancorp by 16.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,994 shares of the bank's stock worth $207,000 after buying an additional 2,701 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Brookline Bancorp by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank's stock worth $536,000 after buying an additional 1,573 shares in the last quarter. Deutsche Bank AG boosted its holdings in Brookline Bancorp by 55.9% during the fourth quarter. Deutsche Bank AG now owns 74,903 shares of the bank's stock worth $884,000 after buying an additional 26,856 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookline Bancorp by 2.7% in the first quarter. Principal Financial Group Inc. now owns 443,698 shares of the bank's stock valued at $4,836,000 after purchasing an additional 11,629 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Brookline Bancorp in the first quarter valued at about $156,000. Hedge funds and other institutional investors own 78.91% of the company's stock.

Insider Buying and Selling

In related news, insider Janytra M. Brooks sold 3,763 shares of the company's stock in a transaction that occurred on Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the transaction, the insider owned 44,322 shares of the company's stock, valued at approximately $455,630.16. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.89% of the company's stock.

Brookline Bancorp Trading Down 0.6%

Shares of BRKL traded down $0.07 on Friday, hitting $10.95. 5,639,248 shares of the stock traded hands, compared to its average volume of 632,617. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $975.75 million, a P/E ratio of 12.30 and a beta of 0.91. The stock's 50 day moving average is $10.77 and its two-hundred day moving average is $10.73. Brookline Bancorp, Inc. has a 1 year low of $9.28 and a 1 year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Brookline Bancorp had a net margin of 12.12% and a return on equity of 6.69%. The business had revenue of $94.66 million for the quarter, compared to the consensus estimate of $94.90 million. As a group, sell-side analysts predict 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, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 4.9%. Brookline Bancorp's dividend payout ratio is 60.67%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Brookline Bancorp to a "hold" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Brookline Bancorp currently has a consensus rating of "Buy" and a consensus target price of $15.25.

Brookline Bancorp Company 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.