Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 23.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,100 shares of the bank’s stock after selling 66,448 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.25% of Brookline Bancorp worth $1,838,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. EntryPoint Capital LLC acquired a new position in Brookline Bancorp during the 1st quarter worth $47,000. CWM LLC increased its stake in shares of 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 buying an additional 8,364 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Brookline Bancorp during the second quarter worth approximately $102,000. EMC Capital Management acquired a new stake in Brookline Bancorp in the first quarter valued at approximately $140,000. Finally, ProShare Advisors LLC lifted its stake in Brookline Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock worth $176,000 after acquiring an additional 1,223 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL opened at $10.23 on Tuesday. The stock’s 50-day simple moving average is $10.01 and its 200-day simple moving average is $9.30. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $909.40 million, a PE ratio of 11.00 and a beta of 0.78. Brookline Bancorp, Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $161.75 million during the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. During the same quarter in the previous year, the firm earned $0.26 EPS. As a group, equities research analysts forecast that Brookline Bancorp, Inc. will post 0.77 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised 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 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.