Charles Schwab Investment Management Inc. Sells 76,648 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 939,755 shares of the bank’s stock after selling 76,648 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.05% of Brookline Bancorp worth $11,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BRKL. JPMorgan Chase & Co. raised its position in shares of Brookline Bancorp by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after acquiring an additional 338,050 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Brookline Bancorp by 36.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock worth $10,369,000 after acquiring an additional 236,066 shares during the last quarter. Jennison Associates LLC raised its position in shares of Brookline Bancorp by 7.7% during the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after acquiring an additional 224,888 shares during the last quarter. Barclays PLC increased its holdings in Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after purchasing an additional 106,345 shares in the last quarter. Finally, ABC Arbitrage SA bought a new stake in Brookline Bancorp in the fourth quarter worth approximately $707,000. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Stock Performance

Shares of BRKL opened at $10.86 on Friday. The firm has a market cap of $967.68 million, a PE ratio of 14.10 and a beta of 0.78. The stock’s fifty day moving average price is $11.74 and its two-hundred day moving average price is $11.45. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, equities research analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 annualized dividend and a dividend yield of 4.97%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BRKL shares. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a report on Friday, December 20th. StockNews.com started coverage on Brookline Bancorp in a report on Sunday, March 16th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a report on Tuesday, December 24th.

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.