JPMorgan Chase & Co. Buys 404,897 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

JPMorgan Chase & Co. increased its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 62.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,051,997 shares of the bank's stock after purchasing an additional 404,897 shares during the period. JPMorgan Chase & Co. owned 1.18% of Brookline Bancorp worth $12,414,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BRKL. Prudential Financial Inc. raised its position in shares of Brookline Bancorp by 12.2% during the fourth quarter. Prudential Financial Inc. now owns 176,900 shares of the bank's stock valued at $2,087,000 after buying an additional 19,300 shares during the last quarter. Vanguard Group Inc. lifted its stake in Brookline Bancorp by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank's stock worth $112,937,000 after purchasing an additional 45,448 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Brookline Bancorp by 3.2% during the 4th quarter. LPL Financial LLC now owns 43,073 shares of the bank's stock valued at $508,000 after purchasing an additional 1,323 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Brookline Bancorp during the fourth quarter valued at about $211,000. Finally, American Century Companies Inc. increased its holdings in shares of Brookline Bancorp by 17.0% in the fourth 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 last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com started coverage on Brookline Bancorp in a research note on Thursday. They set a "hold" rating for the company. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price for the company. in a research report on Tuesday, December 24th. Finally, Raymond James raised shares of Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 target price for the company in a report on Friday, December 20th.

Brookline Bancorp Trading Up 0.9 %

Shares of NASDAQ:BRKL traded up $0.09 during trading on Friday, reaching $9.89. The company's stock had a trading volume of 436,346 shares, compared to its average volume of 583,678. The stock has a market capitalization of $889.70 million, a PE ratio of 12.84 and a beta of 0.71. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The firm's 50 day simple moving average is $10.92 and its two-hundred day simple moving average is $11.47.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts predict 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, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.46%. The ex-dividend date was Friday, February 14th. Brookline Bancorp's payout ratio is 70.13%.

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.