Deutsche Bank AG Grows Stake in Brookline Bancorp, Inc. $BRKL

Key Points

• Deutsche Bank AG increased its stake in Brookline Bancorp, Inc. by 54.2% in the first quarter, now holding 115,508 shares valued at approximately $1.26 million.
• Brookline Bancorp has recently announced a quarterly dividend of $0.135 per share, representing an annualized yield of 4.8% with a dividend payout ratio of 60.67%.
• Analysts maintain a Buy rating on Brookline Bancorp with a price target of $15.25, despite a recent "hold" rating update from Wall Street Zen.

Deutsche Bank AG boosted its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 54.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,508 shares of the bank's stock after acquiring an additional 40,605 shares during the quarter. Deutsche Bank AG owned 0.13% of Brookline Bancorp worth $1,259,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Brookline Bancorp by 16.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,994 shares of the bank's stock valued at $207,000 after acquiring an additional 2,701 shares during the period. Illinois Municipal Retirement Fund boosted its position in Brookline Bancorp by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank's stock valued at $536,000 after buying an additional 1,573 shares during the period. Principal Financial Group Inc. boosted its position in Brookline Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 443,698 shares of the bank's stock valued at $4,836,000 after buying an additional 11,629 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Brookline Bancorp in the 1st quarter valued at about $156,000. Finally, Northern Trust Corp boosted its position in Brookline Bancorp by 6.1% in the 4th quarter. Northern Trust Corp now owns 908,872 shares of the bank's stock valued at $10,725,000 after buying an additional 52,183 shares during the period. Hedge funds and other institutional investors own 78.91% of the company's stock.

Brookline Bancorp Trading Down 0.6%

BRKL traded down $0.07 during trading on Friday, hitting $10.95. 5,639,248 shares of the stock were exchanged, compared to its average volume of 632,617. The firm has a 50 day simple moving average of $10.77 and a 200 day simple moving average of $10.73. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $975.75 million, a price-to-earnings ratio of 12.30 and a beta of 0.91. 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 posted its earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share for the quarter, hitting analysts' consensus estimates of $0.25. The company had revenue of $94.66 million during 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%. As a group, equities analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a yield of 4.9%. Brookline Bancorp's dividend payout ratio is currently 60.67%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the company's stock in a transaction on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the sale, the insider owned 44,322 shares in the company, valued at $455,630.16. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.89% of the stock is currently owned by corporate insiders.

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.