Cerity Partners LLC Increases Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Cerity Partners LLC lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 526.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,306 shares of the bank's stock after buying an additional 85,130 shares during the period. Cerity Partners LLC owned about 0.11% of Brookline Bancorp worth $1,104,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in Brookline Bancorp by 805.4% during 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. Pinney & Scofield Inc. acquired a new position in Brookline Bancorp during the fourth quarter worth $35,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Brookline Bancorp in the fourth quarter valued at $72,000. Focus Partners Wealth purchased a new position in shares of Brookline Bancorp during the fourth quarter worth about $121,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Brookline Bancorp during the fourth quarter worth about $129,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $11.07 on Wednesday. Brookline Bancorp, Inc. has a twelve month low of $9.24 and a twelve month high of $13.15. The firm has a market cap of $986.45 million, a P/E ratio of 13.50 and a beta of 0.88. The firm's 50-day simple moving average is $10.67 and its 200-day simple moving average is $11.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.09 and a current ratio of 1.09.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $91.49 million during the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a return on equity of 6.32% and a net margin of 11.22%. As a group, research analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.

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