Toronto Dominion Bank Acquires New Stake in Brookline Bancorp, Inc. (NASDAQ: BRKL)
The Toronto Dominion Bank has acquired a new stake in Brookline Bancorp, Inc. (NASDAQ: BRKL – Get a rating) during the first quarter, according to its most recently filed Form 13F with the Securities and Exchange Commission. The institutional investor acquired 26,390 shares of the bank, valued at approximately $417,000.
A number of other major investors have also recently increased or reduced their stakes in the company. The Swiss National Bank increased its equity stake in Brookline Bancorp by 6.6% during the 1st quarter. The Swiss National Bank now owns 183,600 shares of the bank worth $2,905,000 after buying 11,400 more shares in the last quarter. Teacher Retirement System of Texas increased its equity stake in Brookline Bancorp by 6.3% in Q1. Teacher Retirement System of Texas now owns 15,982 shares of the bank worth $253,000 after buying 952 additional shares in the last quarter. Qube Research & Technologies Ltd acquired a new equity stake in Brookline Bancorp during Q1 worth approximately $609,000. The State Board of Administration of Florida Retirement System increased its stake in Brookline Bancorp stock by 11.7% in Q1. The Florida Retirement System State Board of Directors now owns 62,331 shares of the bank worth $986,000 after purchasing 6,538 additional shares in the last quarter. Finally, KBC Group NV increased its stake in Brookline Bancorp shares by 44.0% during the first quarter. KBC Group NV now owns 5,878 shares in the bank worth $93,000 after buying an additional 1,797 shares in the last quarter. 81.72% of the shares are held by institutional investors and hedge funds.
Price performance of Brookline Bancorp
BRKL opened at $14.05 on Friday. The company’s 50-day simple moving average is $13.57 and its 200-day simple moving average is $14.90. The company has a debt ratio of 0.49, a quick ratio of 1.04 and a current ratio of 1.04. Brookline Bancorp, Inc. has a 1-year low of $12.70 and a 1-year high of $17.74. The stock has a market capitalization of $1.08 billion, a PE ratio of 10.11 and a beta of 0.67.
Brookline Bancorp (NASDAQ: BRKL – Get a rating) last reported results on Wednesday, July 27. The bank reported earnings per share (EPS) of $0.33 for the quarter, missing the consensus estimate of $0.34 per ($0.01). Brookline Bancorp had a return on equity of 10.98% and a net margin of 31.88%. In the same quarter last year, the company made earnings per share of $0.40. As a group, sell-side analysts expect Brookline Bancorp, Inc. to post 1.37 EPS for the current year.
Brookline Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 26. Investors of record on Friday August 12 will receive a dividend of $0.13. The ex-dividend date is Thursday, August 11. This represents an annualized dividend of $0.52 and a yield of 3.70%. Brookline Bancorp’s payout ratio is 37.41%.
Changes to analyst ratings
Separately, Compass Point lowered its price target on Brookline Bancorp shares to $18.00 in a Wednesday, May 25 research note.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as a bank holding company for Brookline Bank which provides commercial, commercial and retail banking services to businesses, municipalities and individuals in the United States. Its deposit products include on-demand checking, NOW, money market and savings accounts. The Company’s loan portfolio primarily includes first mortgage loans secured by commercial, multi-family and residential real estate properties; loans to commercial entities including commercial lines of credit; loans to associations of co-owners; loans and leases used to finance small business equipment; financing of construction and development projects; and equity in housing and other consumer loans.
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