Brookline Bancorp, Inc. (NASDAQ:BRKL) Director Thomas J. Hollister Buys 2,400 Shares

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) Director Thomas J. Hollister acquired 2,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $8.72 per share, with a total value of $20,928.00. Following the acquisition, the director now directly owns 7,800 shares of the company's stock, valued at approximately $68,016. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Brookline Bancorp Price Performance

Shares of BRKL traded down $0.01 during midday trading on Friday, hitting $8.81. 283,788 shares of the company traded hands, compared to its average volume of 450,722. The stock has a 50-day moving average of $9.31 and a 200-day moving average of $9.75. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp, Inc. has a one year low of $7.42 and a one year high of $11.52. The firm has a market cap of $789.78 million, a P/E ratio of 9.48 and a beta of 0.79.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp's dividend payout ratio (DPR) is presently 58.06%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Brookline Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank's stock worth $101,049,000 after buying an additional 54,211 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Brookline Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,008,133 shares of the bank's stock valued at $54,640,000 after buying an additional 37,879 shares in the last quarter. Jennison Associates LLC lifted its position in Brookline Bancorp by 9.4% in the 1st quarter. Jennison Associates LLC now owns 4,917,763 shares of the bank's stock worth $48,981,000 after buying an additional 424,115 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Brookline Bancorp by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,487,227 shares of the bank's stock worth $31,769,000 after buying an additional 41,924 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Brookline Bancorp by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,091,845 shares of the bank's stock valued at $11,912,000 after acquiring an additional 62,286 shares during the last quarter. 78.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BRKL shares. Keefe, Bruyette & Woods reduced their target price on shares of Brookline Bancorp from $12.00 to $10.50 and set a "market perform" rating for the company in a research report on Friday, April 26th. StockNews.com upgraded shares of Brookline Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, January 25th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $12.00 price objective on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.08.

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.

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