Louisiana State Employees Retirement System Takes Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Louisiana State Employees Retirement System bought a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 44,500 shares of the bank’s stock, valued at approximately $485,000. Louisiana State Employees Retirement System owned approximately 0.05% of Brookline Bancorp as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in Brookline Bancorp by 2,268.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after buying an additional 2,200 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Brookline Bancorp by 7.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock worth $322,000 after acquiring an additional 2,373 shares during the last quarter. Swiss National Bank lifted its position in Brookline Bancorp by 1.7% in the 3rd quarter. Swiss National Bank now owns 195,600 shares of the bank’s stock valued at $1,782,000 after acquiring an additional 3,300 shares in the last quarter. Parsons Capital Management Inc. RI boosted its stake in Brookline Bancorp by 7.9% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 54,662 shares of the bank’s stock valued at $498,000 after purchasing an additional 3,986 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Brookline Bancorp by 46.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,915 shares of the bank’s stock worth $136,000 after purchasing an additional 4,728 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Stock Performance

Shares of Brookline Bancorp stock opened at $8.35 on Tuesday. The business’s fifty day simple moving average is $9.48 and its 200 day simple moving average is $9.78. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. Brookline Bancorp, Inc. has a 12 month low of $7.00 and a 12 month high of $11.52. The firm has a market capitalization of $748.54 million, a P/E ratio of 8.98 and a beta of 0.75.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Thursday, May 9th. Brookline Bancorp’s payout ratio is 58.06%.

Wall Street Analysts Forecast Growth

BRKL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. Finally, StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.08.

Brookline Bancorp Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company's loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.