Moors & Cabot Inc. Sells 10,401 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Moors & Cabot Inc. lessened its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 23.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,903 shares of the bank’s stock after selling 10,401 shares during the quarter. Moors & Cabot Inc.’s holdings in Brookline Bancorp were worth $291,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of Brookline Bancorp by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock worth $10,587,000 after acquiring an additional 59,317 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Brookline Bancorp in the second quarter worth $1,298,000. American Century Companies Inc. lifted its position in shares of Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after purchasing an additional 249,113 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Brookline Bancorp by 38.0% during the second quarter. Texas Permanent School Fund Corp now owns 107,343 shares of the bank’s stock valued at $896,000 after purchasing an additional 29,568 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of Brookline Bancorp by 123.7% in the second quarter. Quest Partners LLC now owns 75,626 shares of the bank’s stock worth $631,000 after purchasing an additional 41,826 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Trading Down 1.5 %

Shares of NASDAQ BRKL opened at $10.31 on Friday. The firm has a market cap of $916.51 million, a PE ratio of 11.09 and a beta of 0.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. Brookline Bancorp, Inc. has a twelve month low of $7.93 and a twelve month high of $11.52. The business has a fifty day simple moving average of $9.97 and a two-hundred day simple moving average of $9.30.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The company had revenue of $161.75 million for the quarter, compared to analysts’ expectations of $89.40 million. During the same period in the prior year, the business earned $0.26 EPS. Analysts expect that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.135 per share. The ex-dividend date was Friday, August 16th. This represents a $0.54 dividend on an annualized basis and a yield of 5.24%. Brookline Bancorp’s payout ratio is 58.06%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research report on Friday, July 26th.

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.