Jennison Associates LLC Raises Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Jennison Associates LLC increased its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 24.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,493,648 shares of the bank’s stock after acquiring an additional 870,327 shares during the quarter. Jennison Associates LLC owned 0.05% of Brookline Bancorp worth $49,026,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Brookline Bancorp by 2,268.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after purchasing an additional 2,200 shares during the period. Advisor Partners II LLC bought a new stake in Brookline Bancorp in the 3rd quarter worth $104,000. Fox Run Management L.L.C. bought a new stake in Brookline Bancorp in the 3rd quarter worth $106,000. Ieq Capital LLC bought a new stake in Brookline Bancorp in the 3rd quarter worth $110,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Brookline Bancorp in the 4th quarter worth $134,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analysts Set New Price Targets

BRKL has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a report on Wednesday, March 27th. TheStreet raised shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, StockNews.com raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Brookline Bancorp Trading Up 2.0 %

Shares of BRKL opened at $9.56 on Wednesday. The firm’s 50-day moving average price is $9.59 and its 200-day moving average price is $9.79. The firm has a market capitalization of $857.05 million, a price-to-earnings ratio of 11.12 and a beta of 0.75. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. Brookline Bancorp, Inc. has a 1-year low of $7.00 and a 1-year high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. During the same quarter in the previous year, the firm posted $0.39 EPS. Sell-side analysts anticipate that Brookline Bancorp, Inc. will post 0.97 EPS for the current year.

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.