Bank of New York Mellon Corp Sells 33,426 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Bank of New York Mellon Corp lowered its position in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,145,361 shares of the bank's stock after selling 33,426 shares during the period. Bank of New York Mellon Corp owned 1.29% of Brookline Bancorp worth $13,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning acquired a new position in Brookline Bancorp in the 3rd quarter valued at about $103,000. Wealth Enhancement Advisory Services LLC acquired a new position in Brookline Bancorp during the third quarter worth approximately $118,000. Entropy Technologies LP acquired a new position in Brookline Bancorp during the third quarter worth approximately $122,000. Aigen Investment Management LP increased its position in Brookline Bancorp by 136.3% during the third quarter. Aigen Investment Management LP now owns 27,643 shares of the bank's stock worth $279,000 after buying an additional 15,946 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Brookline Bancorp by 5.4% in the third quarter. Empowered Funds LLC now owns 242,690 shares of the bank's stock valued at $2,449,000 after purchasing an additional 12,328 shares during the period. Hedge funds and other institutional investors own 78.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BRKL shares. Raymond James raised Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price objective on the stock in a report on Friday, December 20th. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price objective on the stock. in a research report on Tuesday, December 24th. Finally, StockNews.com began coverage on Brookline Bancorp in a research report on Sunday. They set a "hold" rating on the stock.

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Brookline Bancorp Stock Performance

NASDAQ:BRKL traded up $0.21 during trading hours on Friday, reaching $10.93. 305,740 shares of the stock were exchanged, compared to its average volume of 523,181. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $11.81 and a 200-day simple moving average of $11.43. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The stock has a market capitalization of $973.92 million, a P/E ratio of 14.19 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. As a group, sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 annualized dividend and a dividend yield of 4.94%. Brookline Bancorp's dividend payout ratio (DPR) is presently 70.13%.

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.