Jennison Associates LLC Buys 41,429 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Jennison Associates LLC raised its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,174,794 shares of the bank's stock after purchasing an additional 41,429 shares during the period. Jennison Associates LLC owned 3.53% of Brookline Bancorp worth $34,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in 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 purchasing an additional 2,513 shares in the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Brookline Bancorp during the fourth quarter worth about $35,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Brookline Bancorp during the fourth quarter worth about $72,000. Focus Partners Wealth bought a new stake in shares of Brookline Bancorp during the fourth quarter worth about $121,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Brookline Bancorp during the fourth quarter worth about $129,000. 78.91% of the stock is owned by institutional investors.

Brookline Bancorp Stock Down 0.1%

Brookline Bancorp stock opened at $11.09 on Friday. Brookline Bancorp, Inc. has a fifty-two week low of $9.24 and a fifty-two week high of $13.15. The stock has a market cap of $988.23 million, a PE ratio of 13.52 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 released its earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The company had revenue of $91.49 million during the quarter, compared to analysts' expectations of $91.38 million. Brookline Bancorp had a net margin of 11.22% and a return on equity of 6.32%. Research analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Friday, May 9th. Brookline Bancorp's payout ratio is currently 65.85%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed 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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