State of New Jersey Common Pension Fund D Sells 21,414 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

State of New Jersey Common Pension Fund D cut its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,628 shares of the bank’s stock after selling 21,414 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brookline Bancorp were worth $2,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Brookline Bancorp by 99.8% during the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock valued at $2,149,000 after acquiring an additional 106,345 shares in the last quarter. Jane Street Group LLC increased its holdings in Brookline Bancorp by 12.2% in the 3rd quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock worth $1,988,000 after buying an additional 21,394 shares in the last quarter. Jennison Associates LLC increased its holdings in Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after buying an additional 224,888 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Brookline Bancorp by 384.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock worth $599,000 after buying an additional 47,094 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Brookline Bancorp by 109.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after buying an additional 338,050 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Stock Down 1.9 %

NASDAQ BRKL opened at $11.66 on Friday. The stock’s 50 day moving average is $11.99 and its 200 day moving average is $11.27. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15. The stock has a market cap of $1.04 billion, a PE ratio of 15.14 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. Research analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, February 14th. Brookline Bancorp’s payout ratio is 70.13%.

Wall Street Analysts Forecast Growth

BRKL has been the subject of several research analyst reports. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a report on Tuesday, December 24th. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Friday, December 20th. Finally, StockNews.com started coverage on Brookline Bancorp in a research report on Thursday. They issued a “hold” rating on the stock.

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.