Canton Hathaway LLC Acquires New Stake in Brookline Bancorp, Inc. (BRKL)

Canton Hathaway LLC acquired a new stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 380,652 shares of the bank’s stock, valued at approximately $6,357,000. Brookline Bancorp comprises about 4.0% of Canton Hathaway LLC’s portfolio, making the stock its 2nd largest holding. Canton Hathaway LLC owned about 0.47% of Brookline Bancorp at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BRKL. Northern Trust Corp raised its stake in Brookline Bancorp by 1.7% during the 2nd quarter. Northern Trust Corp now owns 1,498,839 shares of the bank’s stock valued at $27,879,000 after purchasing an additional 24,799 shares during the period. Moody Aldrich Partners LLC raised its stake in Brookline Bancorp by 44.2% during the 2nd quarter. Moody Aldrich Partners LLC now owns 264,308 shares of the bank’s stock valued at $4,916,000 after purchasing an additional 80,971 shares during the period. MetLife Investment Advisors LLC raised its stake in Brookline Bancorp by 11.0% during the 2nd quarter. MetLife Investment Advisors LLC now owns 36,642 shares of the bank’s stock valued at $682,000 after purchasing an additional 3,641 shares during the period. Bank of America Corp DE raised its stake in Brookline Bancorp by 10.7% during the 2nd quarter. Bank of America Corp DE now owns 493,477 shares of the bank’s stock valued at $9,178,000 after purchasing an additional 47,809 shares during the period. Finally, First Republic Investment Management Inc. acquired a new stake in Brookline Bancorp during the 2nd quarter valued at $431,000. Institutional investors own 75.79% of the company’s stock.

In other news, General Counsel Michael W. Mccurdy sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $17.90, for a total value of $53,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David C. Chapin sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $18.01, for a total transaction of $90,050.00. The disclosure for this sale can be found here. Insiders sold 15,250 shares of company stock worth $275,853 over the last ninety days. 2.51% of the stock is currently owned by company insiders.

Shares of NASDAQ BRKL traded down $0.36 during mid-day trading on Friday, reaching $15.90. The company had a trading volume of 26,107 shares, compared to its average volume of 312,354. Brookline Bancorp, Inc. has a twelve month low of $14.45 and a twelve month high of $19.35. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $1.34 billion, a PE ratio of 20.46 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.26 earnings per share for the quarter, hitting the Zacks’ 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 for the quarter, compared to the consensus estimate of $69.40 million. As a group, analysts predict that Brookline Bancorp, Inc. will post 1.08 EPS for the current year.

Several analysts have issued reports on BRKL shares. Zacks Investment Research downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, June 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.50 target price on shares of Brookline Bancorp in a research note on Wednesday, August 8th. BidaskClub downgraded shares of Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. Finally, ValuEngine downgraded shares of Brookline Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.67.

About Brookline Bancorp

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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