Hennion & Walsh Asset Management Inc. Lowers Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Hennion & Walsh Asset Management Inc. decreased its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,390 shares of the bank’s stock after selling 4,195 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.05% of Brookline Bancorp worth $559,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Brookline Bancorp by 4.9% in the second 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 period. XTX Topco Ltd purchased a new position in shares of Brookline Bancorp in the 2nd quarter valued at about $115,000. Intech Investment Management LLC acquired a new position in Brookline Bancorp in the 2nd quarter worth about $341,000. Sei Investments Co. boosted its position 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 purchasing an additional 3,397 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Brookline Bancorp by 14.3% during the second quarter. Thrivent Financial for Lutherans now owns 340,268 shares of the bank’s stock worth $2,841,000 after purchasing an additional 42,625 shares in the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BRKL. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Friday, December 20th. StockNews.com began coverage on Brookline Bancorp in a research report on Sunday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research report on Tuesday, December 24th.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $12.00 on Tuesday. The business has a 50 day simple moving average of $12.17 and a two-hundred day simple moving average of $10.87. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15. The stock has a market capitalization of $1.07 billion, a P/E ratio of 14.46 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13.

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

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.50%. Brookline Bancorp’s payout ratio is currently 65.06%.

Brookline Bancorp Company 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.