Point72 DIFC Ltd Sells 4,232 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Point72 DIFC Ltd lowered its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 30.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,632 shares of the bank’s stock after selling 4,232 shares during the quarter. Point72 DIFC Ltd’s holdings in Brookline Bancorp were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BRKL. FMR LLC increased its position in Brookline Bancorp by 174.9% during the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after buying an additional 3,279 shares during the last quarter. CWM LLC raised its stake in shares of Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after acquiring an additional 8,364 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Brookline Bancorp in the 2nd quarter worth approximately $102,000. Creative Planning bought a new stake in Brookline Bancorp during the third quarter worth approximately $103,000. Finally, Townsquare Capital LLC acquired a new position in Brookline Bancorp during the third quarter valued at approximately $111,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $12.62 on Monday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 15.20 and a beta of 0.78. The business has a 50 day moving average price of $11.42 and a 200 day moving average price of $10.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp, Inc. has a twelve month low of $8.01 and a twelve month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The company had revenue of $165.91 million during the quarter, compared to analysts’ expectations of $88.67 million. During the same period in the prior year, the business earned $0.26 earnings per share. Research analysts predict that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.28%. Brookline Bancorp’s payout ratio is 65.06%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded shares of Brookline Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $14.50 in a research note on Wednesday, December 4th.

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.