HighTower Advisors LLC Has $605,000 Position in Brookline Bancorp, Inc. $BRKL

HighTower Advisors LLC reduced its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,502 shares of the bank’s stock after selling 1,231 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Brookline Bancorp worth $605,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pinney & Scofield Inc. acquired a new position in shares of Brookline Bancorp during the 4th quarter worth about $35,000. PNC Financial Services Group Inc. lifted its holdings in shares of Brookline Bancorp by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank’s stock valued at $53,000 after purchasing an additional 1,199 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Brookline Bancorp during the 4th quarter valued at about $121,000. Asset Management One Co. Ltd. bought a new position in shares of Brookline Bancorp during the 1st quarter valued at about $156,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Brookline Bancorp by 920.9% during the 1st quarter. GAMMA Investing LLC now owns 14,497 shares of the bank’s stock valued at $158,000 after purchasing an additional 13,077 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 44,322 shares in the company, 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. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Brookline Bancorp to a “hold” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.25.

Brookline Bancorp Trading Down 0.6%

NASDAQ BRKL opened at $10.95 on Friday. The stock has a market capitalization of $975.75 million, a price-to-earnings ratio of 12.30 and a beta of 0.91. The stock’s 50 day moving average price is $10.77 and its two-hundred day moving average price is $10.73. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 1.10. Brookline Bancorp, Inc. has a 52 week low of $9.28 and a 52 week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The firm had revenue of $94.66 million for the quarter, compared to analysts’ expectations of $94.90 million. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. As a group, analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.135 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 4.9%. Brookline Bancorp’s payout ratio is presently 60.67%.

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.