Bank of New York Mellon Corp Cuts Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Bank of New York Mellon Corp cut its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,094,757 shares of the bank’s stock after selling 50,604 shares during the period. Bank of New York Mellon Corp owned about 1.22% of Brookline Bancorp worth $11,933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC grew its position in Brookline Bancorp by 805.4% during the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock valued at $33,000 after buying an additional 2,513 shares during the period. Pinney & Scofield Inc. purchased a new stake in shares of Brookline Bancorp during the 4th quarter worth approximately $35,000. C M Bidwell & Associates Ltd. purchased a new position in Brookline Bancorp in the fourth quarter valued at approximately $72,000. Focus Partners Wealth purchased a new position in Brookline Bancorp in the fourth quarter valued at approximately $121,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Brookline Bancorp during the fourth quarter valued at $129,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Down 0.1%

BRKL opened at $11.09 on Monday. Brookline Bancorp, Inc. has a 12 month low of $9.24 and a 12 month high of $13.15. The company has a market cap of $988.23 million, a PE ratio of 13.52 and a beta of 0.88. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $10.67 and a 200 day moving average of $11.00.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $91.49 million during the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a return on equity of 6.32% and a net margin of 11.22%. On average, sell-side analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Friday, May 9th. Brookline Bancorp’s payout ratio is presently 65.85%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Brookline Bancorp in a research note on Monday, May 19th. They issued a “hold” rating on the stock.

Brookline Bancorp Company 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.