Citigroup Inc. Has $21.46 Million Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Citigroup Inc. grew its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 157.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,968,304 shares of the bank's stock after buying an additional 1,202,542 shares during the period. Citigroup Inc. owned approximately 2.19% of Brookline Bancorp worth $21,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRKL. Sterling Capital Management LLC lifted its holdings in shares of Brookline Bancorp by 805.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank's stock valued at $33,000 after purchasing an additional 2,513 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $35,000. PNC Financial Services Group Inc. increased its position in shares of Brookline Bancorp by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock worth $53,000 after purchasing an additional 1,199 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $121,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $129,000. Institutional investors own 78.91% of the company's stock.

Insiders Place Their Bets

In related news, insider Janytra M. Brooks sold 3,763 shares of the firm's stock in a transaction dated Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total value of $38,683.64. Following the sale, the insider directly owned 44,322 shares of the company's stock, valued at $455,630.16. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.89% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Brookline Bancorp Stock Performance

NASDAQ BRKL traded down $0.19 on Friday, reaching $10.56. The stock had a trading volume of 766,813 shares, compared to its average volume of 528,550. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a fifty day moving average of $10.65 and a two-hundred day moving average of $10.83. Brookline Bancorp, Inc. has a 1-year low of $9.28 and a 1-year high of $13.15. The company has a market cap of $941.00 million, a P/E ratio of 11.87 and a beta of 0.91.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $94.66 million for the quarter, compared to analyst estimates of $94.90 million. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. On average, equities research analysts anticipate that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 5.1%. Brookline Bancorp's dividend payout ratio (DPR) is 60.67%.

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.