Ameriprise Financial Inc. Has $8.17 Million Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Ameriprise Financial Inc. raised its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 692,452 shares of the bank's stock after acquiring an additional 62,215 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.78% of Brookline Bancorp worth $8,171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its holdings in shares of Brookline Bancorp by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 57,132 shares of the bank's stock valued at $674,000 after buying an additional 811 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Brookline Bancorp by 3.2% in the fourth quarter. LPL Financial LLC now owns 43,073 shares of the bank's stock valued at $508,000 after buying an additional 1,323 shares during the last quarter. Mariner LLC raised its holdings in shares of Brookline Bancorp by 6.7% in the fourth quarter. Mariner LLC now owns 34,954 shares of the bank's stock valued at $412,000 after buying an additional 2,194 shares during the last quarter. KBC Group NV raised its holdings in shares of Brookline Bancorp by 60.3% in the fourth quarter. KBC Group NV now owns 6,438 shares of the bank's stock valued at $76,000 after buying an additional 2,421 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Brookline Bancorp by 805.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank's stock valued at $33,000 after buying an additional 2,513 shares during the last quarter. 78.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on Brookline Bancorp in a report on Monday, May 19th. They set a "hold" rating for the company.

Brookline Bancorp Trading Up 2.3%

NASDAQ:BRKL traded up $0.24 on Tuesday, hitting $10.59. 306,230 shares of the stock were exchanged, compared to its average volume of 590,824. The stock has a market capitalization of $943.62 million, a price-to-earnings ratio of 13.75 and a beta of 0.88. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The company's 50-day moving average price is $10.45 and its 200 day moving average price is $11.45.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $91.49 million for the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, equities research analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 5.10%. Brookline Bancorp's payout ratio is currently 65.85%.

Brookline Bancorp 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.