Russell Investments Group Ltd. Boosts Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Russell Investments Group Ltd. increased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Rating) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,564 shares of the bank’s stock after purchasing an additional 10,066 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Brookline Bancorp worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRKL. Allspring Global Investments Holdings LLC lifted its position in Brookline Bancorp by 2.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,012 shares of the bank’s stock valued at $384,000 after buying an additional 882 shares during the period. Raymond James & Associates increased its stake in shares of Brookline Bancorp by 3.2% in the 3rd quarter. Raymond James & Associates now owns 32,153 shares of the bank’s stock worth $375,000 after acquiring an additional 984 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Brookline Bancorp by 5.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,915 shares of the bank’s stock valued at $292,000 after acquiring an additional 1,044 shares during the period. Mayflower Financial Advisors LLC boosted its stake in Brookline Bancorp by 13.0% during the fourth quarter. Mayflower Financial Advisors LLC now owns 13,067 shares of the bank’s stock worth $185,000 after acquiring an additional 1,500 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Brookline Bancorp by 14.9% in the fourth quarter. ProShare Advisors LLC now owns 11,911 shares of the bank’s stock worth $169,000 after purchasing an additional 1,541 shares during the period. Hedge funds and other institutional investors own 82.28% of the company’s stock.

Analyst Upgrades and Downgrades

BRKL has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of Brookline Bancorp from $15.00 to $13.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com initiated coverage on Brookline Bancorp in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, TheStreet cut Brookline Bancorp from a “b” rating to a “c+” rating in a research note on Thursday, March 23rd.

Insider Activity at Brookline Bancorp

In related news, Director Bogdan Nowak bought 25,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $10.70 per share, for a total transaction of $267,500.00. Following the purchase, the director now owns 218,662 shares of the company’s stock, valued at $2,339,683.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Bogdan Nowak bought 25,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $10.70 per share, with a total value of $267,500.00. Following the transaction, the director now owns 218,662 shares in the company, valued at approximately $2,339,683.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Goldrick sold 17,023 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $13.09, for a total value of $222,831.07. Following the transaction, the chief executive officer now directly owns 15,063 shares in the company, valued at $197,174.67. The disclosure for this sale can be found here. Insiders have acquired 45,000 shares of company stock valued at $471,910 over the last ninety days. Insiders own 2.89% of the company’s stock.

Brookline Bancorp Trading Down 1.7 %

NASDAQ:BRKL opened at $8.60 on Thursday. The stock has a market cap of $762.52 million, a price-to-earnings ratio of 7.17 and a beta of 0.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.40. The company’s 50 day moving average price is $9.56 and its 200-day moving average price is $12.07. Brookline Bancorp, Inc. has a 52 week low of $7.00 and a 52 week high of $15.50.

Brookline Bancorp Dividend Announcement

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

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.