Brookline Bancorp, Inc. $BRKL Shares Sold by Algert Global LLC

Algert Global LLC reduced its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 28.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,796 shares of the bank’s stock after selling 22,130 shares during the quarter. Algert Global LLC owned 0.06% of Brookline Bancorp worth $619,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. raised 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 buying an additional 1,199 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of Brookline Bancorp by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank’s stock valued at $536,000 after buying an additional 1,573 shares during the period. ABC Arbitrage SA raised its holdings in shares of Brookline Bancorp by 2.9% during the 1st quarter. ABC Arbitrage SA now owns 61,656 shares of the bank’s stock valued at $672,000 after buying an additional 1,745 shares during the period. WASHINGTON TRUST Co raised its holdings in shares of Brookline Bancorp by 5.9% during the 1st quarter. WASHINGTON TRUST Co now owns 33,396 shares of the bank’s stock valued at $364,000 after buying an additional 1,857 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Brookline Bancorp by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,139 shares of the bank’s stock valued at $592,000 after buying an additional 1,859 shares during the period. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL opened at $11.16 on Friday. Brookline Bancorp, Inc. has a fifty-two week low of $9.28 and a fifty-two week high of $13.15. The business has a 50 day moving average price of $10.67 and a two-hundred day moving average price of $10.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. The firm has a market cap of $994.47 million, a PE ratio of 12.54 and a beta of 0.91.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates 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. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, August 8th. Brookline Bancorp’s dividend payout ratio (DPR) is 60.67%.

Insiders Place Their Bets

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the stock in a transaction that occurred on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total transaction of $38,683.64. Following the transaction, the insider owned 44,322 shares of the company’s stock, valued at $455,630.16. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Brookline Bancorp to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Brookline Bancorp has an average rating of “Buy” and an average target price of $15.25.

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.