Northern Trust Corp Buys 52,183 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Northern Trust Corp raised its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 908,872 shares of the bank's stock after buying an additional 52,183 shares during the quarter. Northern Trust Corp owned about 1.02% of Brookline Bancorp worth $10,725,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Sterling Capital Management LLC increased its position in shares of 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 period. C M Bidwell & Associates Ltd. purchased a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $72,000. KBC Group NV grew its holdings in shares of Brookline Bancorp by 60.3% during the 4th quarter. KBC Group NV now owns 6,438 shares of the bank's stock worth $76,000 after acquiring an additional 2,421 shares during the period. Semanteon Capital Management LP bought a new position in shares of Brookline Bancorp in the 4th quarter worth approximately $133,000. Finally, Bank of Montreal Can purchased a new position in shares of Brookline Bancorp in the 4th quarter valued at approximately $138,000. 78.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on Brookline Bancorp in a research note on Monday. They issued a "hold" rating on the stock.

Brookline Bancorp Stock Down 1.1%

Shares of Brookline Bancorp stock traded down $0.12 during trading on Friday, hitting $10.35. The company's stock had a trading volume of 86,401 shares, compared to its average volume of 588,497. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a market capitalization of $921.79 million, a PE ratio of 13.44 and a beta of 0.88. The company has a fifty day simple moving average of $10.48 and a two-hundred day simple moving average of $11.49. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12.

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 analysts' consensus estimates of $0.23 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. The business had revenue of $91.49 million during the quarter, compared to analysts' expectations of $91.38 million. Equities research analysts predict that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, May 9th. Brookline Bancorp's payout ratio is 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.