Maryland State Retirement & Pension System Sells 4,025 Shares of Brookline Bancorp, Inc. $BRKL

Maryland State Retirement & Pension System decreased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 13.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,000 shares of the bank’s stock after selling 4,025 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Brookline Bancorp were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in shares of Brookline Bancorp by 805.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock worth $33,000 after buying an additional 2,513 shares during the period. Pinney & Scofield Inc. bought a new position in shares of Brookline Bancorp in the fourth quarter worth about $35,000. PNC Financial Services Group Inc. raised its stake in shares of Brookline Bancorp by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank’s stock worth $53,000 after buying an additional 1,199 shares during the period. Focus Partners Wealth bought a new position in shares of Brookline Bancorp in the fourth quarter worth about $121,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Brookline Bancorp in the fourth quarter worth about $129,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $10.53 on Tuesday. The stock has a market cap of $938.33 million, a price-to-earnings ratio of 11.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $10.65 and a 200-day moving average price of $10.81. Brookline Bancorp, Inc. has a one year low of $9.28 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. The firm had revenue of $94.66 million during the quarter, compared to analysts’ expectations of $94.90 million. Equities analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a yield of 5.1%. Brookline Bancorp’s payout ratio is 60.67%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Janytra M. Brooks sold 3,763 shares of the business’s stock in a transaction on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total value of $38,683.64. Following the completion of the transaction, the insider directly owned 44,322 shares of the company’s stock, valued at approximately $455,630.16. The trade was a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.55% of the stock is currently owned by company insiders.

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.