Brookline Bancorp, Inc. $BRKL Stake Trimmed by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,624 shares of the bank’s stock after selling 2,750 shares during the quarter. Voya Investment Management LLC’s holdings in Brookline Bancorp were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In related 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 completion of the sale, the insider directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Brookline Bancorp to a “hold” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Brookline Bancorp presently has a consensus rating of “Buy” and a consensus price target of $15.25.

Brookline Bancorp Price Performance

BRKL opened at $10.95 on Tuesday. The business has a 50 day moving average price of $10.78 and a 200 day moving average price of $10.63. Brookline Bancorp, Inc. has a twelve month low of $9.28 and a twelve month high of $13.15. 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 market cap of $975.75 million, a P/E ratio of 12.30 and a beta of 0.94.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share for the quarter, hitting the consensus estimate 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 analyst estimates of $94.90 million. Research analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current 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 issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, August 8th. Brookline Bancorp’s payout ratio is 60.67%.

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.