New York State Teachers Retirement System lowered its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 237,026 shares of the bank’s stock after selling 2,700 shares during the period. New York State Teachers Retirement System’s holdings in Brookline Bancorp were worth $3,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Brookline Bancorp by 4.9% in the third quarter. BlackRock Inc. now owns 11,699,175 shares of the bank’s stock valued at $195,375,000 after buying an additional 549,170 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Brookline Bancorp by 3.4% in the third quarter. Vanguard Group Inc now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after buying an additional 260,206 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Brookline Bancorp by 3.4% in the third quarter. Vanguard Group Inc. now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after buying an additional 260,206 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Brookline Bancorp by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,392,718 shares of the bank’s stock valued at $106,759,000 after buying an additional 37,144 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Brookline Bancorp by 7.6% in the third quarter. Renaissance Technologies LLC now owns 1,653,300 shares of the bank’s stock valued at $27,610,000 after buying an additional 116,300 shares in the last quarter. 78.15% of the stock is currently owned by institutional investors.

BRKL stock opened at $15.57 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. Brookline Bancorp, Inc. has a 1 year low of $12.84 and a 1 year high of $19.35. The firm has a market capitalization of $1.25 billion, a P/E ratio of 14.55 and a beta of 0.91.

Brookline Bancorp announced that its board has initiated a stock repurchase plan on Thursday, December 6th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the bank to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 25th. Investors of record on Monday, February 11th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, February 8th. Brookline Bancorp’s payout ratio is presently 39.25%.

Several research firms have issued reports on BRKL. Zacks Investment Research raised Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, February 6th. BidaskClub cut Brookline Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, October 19th. Compass Point cut shares of Brookline Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 8th. Finally, Sandler O’Neill upgraded shares of Brookline Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.17.

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

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