Jennison Associates LLC Purchases 870,327 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Jennison Associates LLC boosted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,493,648 shares of the bank's stock after acquiring an additional 870,327 shares during the period. Jennison Associates LLC owned about 5.06% of Brookline Bancorp worth $49,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position 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 valued at $31,769,000 after acquiring an additional 41,924 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Brookline Bancorp by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank's stock valued at $9,379,000 after buying an additional 63,039 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Brookline Bancorp by 13.2% in the third quarter. American Century Companies Inc. now owns 789,531 shares of the bank's stock valued at $7,193,000 after buying an additional 92,291 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Brookline Bancorp by 12.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 516,761 shares of the bank's stock valued at $5,638,000 after buying an additional 58,170 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Brookline Bancorp by 71.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 427,950 shares of the bank's stock valued at $4,669,000 after buying an additional 178,733 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Performance

NASDAQ BRKL traded down $0.02 during trading hours on Wednesday, hitting $9.54. 288,267 shares of the stock were exchanged, compared to its average volume of 441,607. The company has a market cap of $855.26 million, a price-to-earnings ratio of 11.09 and a beta of 0.75. Brookline Bancorp, Inc. has a 12-month low of $7.00 and a 12-month high of $11.52. The stock has a 50-day moving average of $9.58 and a 200 day moving average of $9.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. The firm had revenue of $160.35 million during the quarter, compared to analysts' expectations of $89.38 million. During the same period in the prior year, the company posted $0.39 earnings per share. As a group, equities research analysts forecast that Brookline Bancorp, Inc. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on BRKL. TheStreet raised shares of Brookline Bancorp from a "c+" rating to a "b-" rating in a report on Tuesday, December 26th. StockNews.com raised shares of Brookline Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, January 25th. Finally, Piper Sandler reissued an "overweight" rating and set a $12.00 price target on shares of Brookline Bancorp in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $11.38.

Brookline Bancorp 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.