Dimensional Fund Advisors LP Lowers Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Dimensional Fund Advisors LP cut its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,154,601 shares of the bank’s stock after selling 36,959 shares during the quarter. Dimensional Fund Advisors LP owned about 5.80% of Brookline Bancorp worth $43,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Hsbc Holdings PLC purchased a new position in Brookline Bancorp during the 4th quarter valued at about $1,881,000. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 32,790 shares during the period. Hennessy Advisors Inc. boosted its holdings in Brookline Bancorp by 19.6% during the 4th quarter. Hennessy Advisors Inc. now owns 275,000 shares of the bank’s stock valued at $3,000,000 after acquiring an additional 45,000 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Brookline Bancorp by 12.6% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 50,002 shares of the bank’s stock valued at $498,000 after acquiring an additional 5,598 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Brookline Bancorp by 58.7% during the 1st quarter. BNP Paribas Financial Markets now owns 61,475 shares of the bank’s stock valued at $612,000 after acquiring an additional 22,749 shares during the period. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Performance

Shares of BRKL opened at $10.09 on Tuesday. The stock has a 50-day simple moving average of $10.00 and a 200-day simple moving average of $9.31. 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 stock has a market capitalization of $896.95 million, a PE ratio of 10.85 and a beta of 0.78. Brookline Bancorp, Inc. has a 1 year low of $7.93 and a 1 year high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. The business had revenue of $161.75 million during the quarter, compared to analysts’ expectations of $89.40 million. During the same quarter last year, the business posted $0.26 EPS. On average, analysts predict that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm 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 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 58.06%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research note 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.