Rhumbline Advisers Decreases Position in Brookline Bancorp, Inc. $BRKL

Rhumbline Advisers cut its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 5.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 260,658 shares of the bank’s stock after selling 15,598 shares during the period. Rhumbline Advisers owned approximately 0.29% of Brookline Bancorp worth $2,841,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its holdings in Brookline Bancorp by 1.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,683,640 shares of the bank’s stock worth $51,052,000 after buying an additional 62,998 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Brookline Bancorp by 1.3% during the first quarter. Jennison Associates LLC now owns 3,174,794 shares of the bank’s stock valued at $34,605,000 after purchasing an additional 41,429 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Brookline Bancorp by 7.1% during the first quarter. American Century Companies Inc. now owns 2,039,038 shares of the bank’s stock valued at $22,226,000 after purchasing an additional 135,225 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Brookline Bancorp by 157.0% during the first quarter. Citigroup Inc. now owns 1,968,304 shares of the bank’s stock valued at $21,455,000 after purchasing an additional 1,202,542 shares during the last quarter. Finally, AQR Arbitrage LLC raised its holdings in shares of Brookline Bancorp by 220.0% during the first quarter. AQR Arbitrage LLC now owns 1,287,231 shares of the bank’s stock valued at $14,031,000 after purchasing an additional 884,937 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Brookline Bancorp to a “hold” rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned 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 price target of $15.25.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $10.95 on Wednesday. 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 firm has a fifty day moving average price of $10.80 and a 200 day moving average price of $10.64. Brookline Bancorp, Inc. has a fifty-two week low of $9.28 and a fifty-two week high of $13.15. The firm has a market cap of $975.75 million, a price-to-earnings ratio of 12.30 and a beta of 0.94.

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

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.135 per share. The ex-dividend date was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.9%. Brookline Bancorp’s dividend payout ratio is currently 60.67%.

Insider Buying and Selling at Brookline Bancorp

In related news, insider Janytra M. Brooks sold 3,763 shares of the company’s stock in a transaction on Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the transaction, the insider owned 44,322 shares in the company, valued at approximately $455,630.16. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.55% of the company’s 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.