Alliancebernstein L.P. Decreases Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Alliancebernstein L.P. lessened its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,250 shares of the bank’s stock after selling 19,500 shares during the quarter. Alliancebernstein L.P. owned about 0.29% of Brookline Bancorp worth $3,071,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Brookline Bancorp by 124.2% in the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,595 shares during the period. FMR LLC increased its position in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after purchasing an additional 3,279 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Brookline Bancorp in the 4th quarter worth approximately $72,000. KBC Group NV boosted its holdings in shares of Brookline Bancorp by 60.3% in the fourth quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after buying an additional 2,421 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new stake in Brookline Bancorp during the fourth quarter valued at approximately $133,000. 78.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective on the stock. in a research note 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 target on the stock in a report on Friday, December 20th. Finally, StockNews.com initiated coverage on shares of Brookline Bancorp in a research note on Wednesday, April 9th. They issued a “hold” rating for the company.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $9.81 on Wednesday. The stock has a market cap of $882.51 million, a price-to-earnings ratio of 12.74 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a 50 day moving average price of $11.08 and a 200-day moving average price of $11.48. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $13.15.

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

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 70.13%.

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.