Nuveen LLC Takes Position in Brookline Bancorp, Inc. $BRKL

Key Points

• Nuveen LLC has acquired a new position in Brookline Bancorp, purchasing 234,733 shares valued at approximately $2.56 million, while institutional investors collectively hold 78.91% of the stock.
• Brookline Bancorp recently declared a quarterly dividend of $0.135 per share, yielding 4.9%, with a payout ratio of 60.67%.
• The company reported earnings per share of $0.25 for the last quarter, meeting analysts' expectations, and has an average price target of $15.25 from equity research analysts.

Nuveen LLC purchased a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 234,733 shares of the bank's stock, valued at approximately $2,559,000. Nuveen LLC owned approximately 0.26% of Brookline Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Brookline Bancorp by 16.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,994 shares of the bank's stock worth $207,000 after acquiring an additional 2,701 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Brookline Bancorp by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank's stock worth $536,000 after purchasing an additional 1,573 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Brookline Bancorp by 55.9% in the fourth quarter. Deutsche Bank AG now owns 74,903 shares of the bank's stock worth $884,000 after purchasing an additional 26,856 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookline Bancorp by 2.7% in the first quarter. Principal Financial Group Inc. now owns 443,698 shares of the bank's stock worth $4,836,000 after purchasing an additional 11,629 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Brookline Bancorp in the first quarter worth about $156,000. Institutional investors and hedge funds own 78.91% of the company's stock.

Brookline Bancorp Stock Performance

BRKL stock traded down $0.07 during midday trading on Friday, hitting $10.95. 5,639,248 shares of the stock traded hands, compared to its average volume of 884,631. The firm has a market cap of $975.75 million, a P/E ratio of 11.77 and a beta of 0.94. Brookline Bancorp, Inc. has a 1-year low of $9.28 and a 1-year high of $13.15. The stock's fifty day simple moving average is $10.77 and its 200-day simple moving average is $10.72. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.10 and a quick ratio of 1.10.

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

Brookline Bancorp Announces Dividend

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

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 dated Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total transaction of $38,683.64. Following the sale, the insider owned 44,322 shares in the company, valued at $455,630.16. This represents a 7.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Brookline Bancorp to a "hold" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Brookline Bancorp has an average rating of "Buy" and an average target price of $15.25.

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.