Brookline Bancorp, Inc. (NASDAQ:BRKL) Stock Position Decreased by Congress Asset Management Co.

Congress Asset Management Co. lowered its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,744 shares of the bank’s stock after selling 2,320 shares during the period. Congress Asset Management Co.’s holdings in Brookline Bancorp were worth $2,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Brookline Bancorp by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock valued at $110,096,000 after purchasing an additional 32,790 shares during the period. BNP Paribas Financial Markets grew its position in shares of Brookline Bancorp by 58.7% during the first quarter. BNP Paribas Financial Markets now owns 61,475 shares of the bank’s stock worth $612,000 after acquiring an additional 22,749 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Brookline Bancorp by 9.4% in the 1st quarter. Jennison Associates LLC now owns 4,917,763 shares of the bank’s stock worth $48,981,000 after acquiring an additional 424,115 shares during the period. Sei Investments Co. lifted its position in Brookline Bancorp by 26.2% in the 1st quarter. Sei Investments Co. now owns 47,640 shares of the bank’s stock valued at $474,000 after purchasing an additional 9,878 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Brookline Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock valued at $176,000 after purchasing an additional 1,223 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Price Performance

Shares of BRKL opened at $11.27 on Friday. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $11.63. The stock’s fifty day moving average is $10.26 and its 200-day moving average is $9.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.11 and a current ratio of 1.13. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 13.58 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same period in the previous year, the firm earned $0.26 EPS. Equities analysts anticipate that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s payout ratio is currently 65.06%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th.

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.