Bank of New York Mellon Corp Has $13.52 Million Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Bank of New York Mellon Corp trimmed its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,145,361 shares of the bank’s stock after selling 33,426 shares during the quarter. Bank of New York Mellon Corp owned 1.29% of Brookline Bancorp worth $13,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRKL. Creative Planning bought a new stake in shares of Brookline Bancorp in the third quarter worth $103,000. Wealth Enhancement Advisory Services LLC acquired a new position in Brookline Bancorp during the 3rd quarter worth about $118,000. Entropy Technologies LP bought a new stake in shares of Brookline Bancorp in the 3rd quarter valued at about $122,000. Aigen Investment Management LP increased its stake in shares of Brookline Bancorp by 136.3% in the third quarter. Aigen Investment Management LP now owns 27,643 shares of the bank’s stock valued at $279,000 after buying an additional 15,946 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Brookline Bancorp by 5.4% in the third quarter. Empowered Funds LLC now owns 242,690 shares of the bank’s stock valued at $2,449,000 after buying an additional 12,328 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Up 0.7 %

Brookline Bancorp stock opened at $10.85 on Thursday. The company has a market capitalization of $966.79 million, a PE ratio of 14.09 and a beta of 0.78. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. The firm’s fifty day moving average is $11.84 and its 200 day moving average is $11.42. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, sell-side analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.98%. Brookline Bancorp’s payout ratio is currently 70.13%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BRKL shares. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a research report on Tuesday, December 24th. Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th. Finally, StockNews.com initiated coverage on shares of Brookline Bancorp in a research note on Saturday, March 8th. They set a “hold” rating for the company.

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.