Hsbc Holdings PLC Trims Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Hsbc Holdings PLC trimmed its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 78.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,940 shares of the bank’s stock after selling 40,787 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookline Bancorp were worth $128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock valued at $2,149,000 after buying an additional 106,345 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Brookline Bancorp by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock valued at $6,529,000 after acquiring an additional 338,050 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Brookline Bancorp by 36.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock valued at $10,369,000 after acquiring an additional 236,066 shares during the period. KBC Group NV increased its stake in shares of Brookline Bancorp by 60.3% in the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,421 shares in the last quarter. Finally, Jennison Associates LLC raised 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 purchasing an additional 224,888 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Brookline Bancorp in a research report on Sunday. They set a “hold” rating for the company.

Brookline Bancorp Stock Down 2.0%

Shares of BRKL opened at $10.55 on Monday. The company’s 50-day moving average price is $10.48 and its 200 day moving average price is $11.51. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The firm has a market cap of $949.08 million, a P/E ratio of 13.70 and a beta of 0.88.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. The business had revenue of $91.49 million for the quarter, compared to analyst estimates of $91.38 million. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a $0.135 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 5.12%. Brookline Bancorp’s dividend payout ratio (DPR) is 65.85%.

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.