Public Sector Pension Investment Board Grows Stock Holdings in Brookline Bancorp, Inc. $BRKL

Key Points

• The Public Sector Pension Investment Board has increased its stake in Brookline Bancorp by 26.9% during the first quarter, now holding 282,508 shares valued at approximately $3,079,000.
• Brookline Bancorp recently declared a quarterly dividend of $0.135 per share, resulting in a 5.1% dividend yield based on an annualized payout of $0.54.
• Brookline Bancorp's stock was down 0.3%, and the company reported earnings per share of $0.25, hitting the consensus estimate for the quarter.

Public Sector Pension Investment Board boosted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 26.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 282,508 shares of the bank's stock after purchasing an additional 59,867 shares during the period. Public Sector Pension Investment Board owned about 0.31% of Brookline Bancorp worth $3,079,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Brookline Bancorp to a "hold" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Brookline Bancorp currently has an average rating of "Buy" and a consensus price target of $15.25.

Insider Activity

In other news, insider Janytra M. Brooks sold 3,763 shares of Brookline Bancorp stock in a transaction on Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the sale, the insider directly owned 44,322 shares of the company's stock, valued at approximately $455,630.16. The trade was a 7.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.55% of the company's stock.

Brookline Bancorp Stock Up 5.1%

Shares of NASDAQ:BRKL traded up $0.54 during trading on Friday, hitting $11.16. The company's stock had a trading volume of 1,837,486 shares, compared to its average volume of 540,127. The business has a 50 day moving average price of $10.67 and a two-hundred day moving average price of $10.76. The company has a market capitalization of $994.47 million, a PE ratio of 12.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 1.10. Brookline Bancorp, Inc. has a fifty-two week low of $9.28 and a fifty-two week high of $13.15.

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

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, August 8th. Brookline Bancorp's payout ratio is 60.67%.

Brookline Bancorp Company 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.