Dimensional Fund Advisors LP Raises Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Dimensional Fund Advisors LP grew its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Rating) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 5,341,699 shares of the bank’s stock after acquiring an additional 179,282 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of Brookline Bancorp worth $75,584,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Denali Advisors LLC purchased a new position in Brookline Bancorp during the fourth quarter worth about $78,000. Citigroup Inc. lifted its position in Brookline Bancorp by 33.2% during the fourth quarter. Citigroup Inc. now owns 53,727 shares of the bank’s stock worth $760,000 after buying an additional 13,402 shares during the period. Raymond James & Associates lifted its position in Brookline Bancorp by 61.3% during the fourth quarter. Raymond James & Associates now owns 51,874 shares of the bank’s stock worth $734,000 after buying an additional 19,721 shares during the period. LSV Asset Management lifted its position in Brookline Bancorp by 194.9% during the fourth quarter. LSV Asset Management now owns 232,055 shares of the bank’s stock worth $3,284,000 after buying an additional 153,355 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Brookline Bancorp by 8.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 86,074 shares of the bank’s stock worth $1,218,000 after buying an additional 6,805 shares during the period. 82.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Bogdan Nowak bought 10,000 shares of the stock in a transaction dated Wednesday, March 8th. The stock was acquired at an average price of $12.14 per share, for a total transaction of $121,400.00. Following the completion of the purchase, the director now owns 168,662 shares in the company, valued at $2,047,556.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Darryl J. Fess bought 5,000 shares of the stock in a transaction dated Friday, May 19th. The stock was acquired at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the purchase, the chief executive officer now owns 65,500 shares in the company, valued at $552,165. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bogdan Nowak bought 10,000 shares of the stock in a transaction dated Wednesday, March 8th. The stock was bought at an average price of $12.14 per share, with a total value of $121,400.00. Following the purchase, the director now owns 168,662 shares of the company’s stock, valued at approximately $2,047,556.68. The disclosure for this purchase can be found here. Insiders bought 45,000 shares of company stock worth $471,910 over the last three months. 2.89% of the stock is owned by insiders.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL opened at $8.60 on Thursday. The firm has a market capitalization of $762.52 million, a PE ratio of 7.17 and a beta of 0.67. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average of $9.56 and a two-hundred day moving average of $12.07. Brookline Bancorp, Inc. has a 12 month low of $7.00 and a 12 month high of $15.50.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.54 annualized dividend and a yield of 6.28%. Brookline Bancorp’s dividend payout ratio is presently 45.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Brookline Bancorp from $15.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. StockNews.com began coverage on Brookline Bancorp in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, TheStreet lowered Brookline Bancorp from a “b” rating to a “c+” rating in a research note on Thursday, March 23rd.

Brookline Bancorp Profile

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Brookline Bancorp, Inc is a multi-bank holding company that engages in the provision of financial solutions through its subsidiaries. The firm offers a range of commercial, business, and retail banking services, including cash management products, on-line banking services, consumer and residential loans, and investment services for small to mid-sized businesses and retail customers.