Brookline Bancorp, Inc. (BRKL) Shares Bought by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan increased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 58.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,710 shares of the bank’s stock after acquiring an additional 10,630 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Brookline Bancorp were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Amalgamated Bank purchased a new position in Brookline Bancorp in the 2nd quarter worth $150,000. Alpine Woods Capital Investors LLC grew its position in shares of Brookline Bancorp by 20.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 12,000 shares of the bank’s stock valued at $175,000 after acquiring an additional 2,000 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at about $176,000. Victory Capital Management Inc. grew its position in shares of Brookline Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 12,137 shares of the bank’s stock valued at $177,000 after acquiring an additional 1,819 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Brookline Bancorp during the 3rd quarter valued at about $197,000. Institutional investors own 77.67% of the company’s stock.

BRKL has been the topic of a number of analyst reports. Sandler O’Neill upgraded Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, August 21st. They noted that the move was a valuation call. BidaskClub cut Brookline Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Brookline Bancorp currently has a consensus rating of “Hold” and a consensus price target of $15.83.

In related news, CEO Paul A. Perrault sold 103,255 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $14.69, for a total value of $1,516,815.95. Following the transaction, the chief executive officer now directly owns 421,122 shares of the company’s stock, valued at approximately $6,186,282.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider M Robert Rose sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $16.07, for a total transaction of $200,875.00. Following the completion of the transaction, the insider now directly owns 35,277 shares in the company, valued at $566,901.39. The disclosure for this sale can be found here. Insiders sold a total of 142,255 shares of company stock worth $2,138,396 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Shares of Brookline Bancorp, Inc. (NASDAQ BRKL) opened at $15.70 on Thursday. Brookline Bancorp, Inc. has a 12-month low of $13.60 and a 12-month high of $17.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $1,218.77, a PE ratio of 20.39 and a beta of 0.97.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. The firm had revenue of $62.82 million for the quarter, compared to analyst estimates of $60.37 million. Brookline Bancorp had a net margin of 19.82% and a return on equity of 7.52%. During the same period last year, the company posted $0.19 EPS. analysts predict that Brookline Bancorp, Inc. will post 0.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 3rd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Thursday, November 2nd. Brookline Bancorp’s dividend payout ratio is presently 46.15%.

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About Brookline Bancorp

Brookline Bancorp, Inc operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.

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Institutional Ownership by Quarter for Brookline Bancorp (NASDAQ:BRKL)

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