First Manhattan Co. reduced its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 293,104 shares of the bank’s stock after selling 4,800 shares during the period. First Manhattan Co.’s holdings in Brookline Bancorp were worth $4,894,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Brookline Bancorp by 11.5% in the second quarter. BlackRock Inc. now owns 11,150,005 shares of the bank’s stock worth $207,391,000 after purchasing an additional 1,148,782 shares during the last quarter. Jennison Associates LLC grew its holdings in Brookline Bancorp by 11.4% in the second quarter. Jennison Associates LLC now owns 2,076,907 shares of the bank’s stock worth $38,630,000 after purchasing an additional 213,297 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Brookline Bancorp by 10.9% in the second quarter. Renaissance Technologies LLC now owns 1,537,000 shares of the bank’s stock worth $28,588,000 after purchasing an additional 150,600 shares during the last quarter. Northern Trust Corp grew its holdings in Brookline Bancorp by 1.7% in the second quarter. Northern Trust Corp now owns 1,498,839 shares of the bank’s stock worth $27,879,000 after purchasing an additional 24,799 shares during the last quarter. Finally, FMR LLC grew its holdings in Brookline Bancorp by 2.4% in the second quarter. FMR LLC now owns 995,200 shares of the bank’s stock worth $18,511,000 after purchasing an additional 23,200 shares during the last quarter. 75.79% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director David C. Chapin sold 5,000 shares of Brookline Bancorp stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.01, for a total transaction of $90,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider M Robert Rose sold 4,500 shares of Brookline Bancorp stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $18.35, for a total transaction of $82,575.00. The disclosure for this sale can be found here. Insiders have sold 15,250 shares of company stock valued at $275,853 over the last quarter. Insiders own 2.51% of the company’s stock.
Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Brookline Bancorp had a net margin of 19.97% and a return on equity of 8.53%. The business had revenue of $68.24 million during the quarter, compared to the consensus estimate of $69.40 million. On average, equities analysts predict that Brookline Bancorp, Inc. will post 1.08 EPS for the current year.
Several research firms have issued reports on BRKL. BidaskClub lowered shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. ValuEngine lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.50 price target on shares of Brookline Bancorp in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Brookline Bancorp currently has a consensus rating of “Hold” and an average price target of $18.67.
Brookline Bancorp Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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