Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 37.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,919,356 shares of the bank’s stock after selling 1,152,574 shares during the period. Massachusetts Financial Services Co. MA owned 2.16% of Brookline Bancorp worth $16,027,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BRKL. EntryPoint Capital LLC acquired a new stake in shares of Brookline Bancorp during the 1st quarter worth approximately $47,000. CWM LLC increased its stake in Brookline Bancorp by 1,806.5% during the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after acquiring an additional 8,364 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Brookline Bancorp in the second quarter valued at $102,000. EMC Capital Management acquired a new position in shares of Brookline Bancorp in the 1st quarter valued at $140,000. Finally, ProShare Advisors LLC grew its holdings in shares of Brookline Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock worth $176,000 after purchasing an additional 1,223 shares during the period. 78.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 report on Friday, July 26th.

Brookline Bancorp Stock Down 1.5 %

NASDAQ:BRKL opened at $10.31 on Friday. Brookline Bancorp, Inc. has a 52 week low of $7.93 and a 52 week high of $11.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. The stock’s fifty day moving average is $9.97 and its two-hundred day moving average is $9.30. The stock has a market capitalization of $916.51 million, a price-to-earnings ratio of 11.09 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $161.75 million during the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same period in the previous year, the company posted $0.26 EPS. Research analysts anticipate that Brookline Bancorp, Inc. will post 0.77 EPS for the current year.

Brookline Bancorp Dividend Announcement

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

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.