Franklin Resources Inc. Makes New $710,000 Investment in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Franklin Resources Inc. purchased a new stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 60,143 shares of the bank's stock, valued at approximately $710,000. Franklin Resources Inc. owned about 0.07% of Brookline Bancorp at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BRKL. JPMorgan Chase & Co. grew its position in shares of Brookline Bancorp by 62.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock valued at $12,414,000 after purchasing an additional 404,897 shares in the last quarter. American Century Companies Inc. boosted its stake in Brookline Bancorp by 17.0% in the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock worth $22,465,000 after purchasing an additional 276,025 shares during the period. Assenagon Asset Management S.A. grew its holdings in Brookline Bancorp by 36.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank's stock valued at $10,369,000 after buying an additional 236,066 shares in the last quarter. Jennison Associates LLC grew its holdings in Brookline Bancorp by 7.7% during the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank's stock valued at $36,974,000 after buying an additional 224,888 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Brookline Bancorp during the fourth quarter valued at about $2,435,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL traded up $0.32 on Tuesday, hitting $10.07. The company's stock had a trading volume of 550,740 shares, compared to its average volume of 584,557. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The company has a market capitalization of $905.90 million, a PE ratio of 13.08 and a beta of 0.71. The company has a 50-day simple moving average of $10.82 and a 200 day simple moving average of $11.48.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 5.36%. Brookline Bancorp's dividend payout ratio is presently 70.13%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BRKL. StockNews.com began coverage on shares of Brookline Bancorp in a research note on Thursday, April 17th. They set a "hold" rating for the company. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price target for the company. in a research report on Tuesday, December 24th.

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.