Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,738 shares of the bank’s stock after selling 1,454 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Brookline Bancorp worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in Brookline Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock worth $176,000 after purchasing an additional 1,223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookline Bancorp by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after buying an additional 2,002 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Brookline Bancorp by 4.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock valued at $435,000 after buying an additional 2,097 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Brookline Bancorp by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank’s stock valued at $742,000 after buying an additional 3,040 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Brookline Bancorp by 7.1% during the second quarter. Sei Investments Co. now owns 51,037 shares of the bank’s stock worth $426,000 after acquiring an additional 3,397 shares during the period. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $12.16 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 14.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.11. The business’s 50 day simple moving average is $10.42 and its 200-day simple moving average is $9.57. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $12.57.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, equities analysts forecast that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s payout ratio is currently 65.06%.

About Brookline Bancorp

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.