Charles Schwab Investment Management Inc. Sells 76,648 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 939,755 shares of the bank's stock after selling 76,648 shares during the period. Charles Schwab Investment Management Inc. owned about 1.05% of Brookline Bancorp worth $11,089,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BRKL. State Street Corp grew its stake in shares of Brookline Bancorp by 0.5% during the third quarter. State Street Corp now owns 4,129,487 shares of the bank's stock valued at $41,667,000 after buying an additional 21,345 shares during the last quarter. Jennison Associates LLC increased its stake 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. Geode Capital Management LLC lifted its position in Brookline Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank's stock valued at $21,084,000 after purchasing an additional 26,714 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Brookline Bancorp by 36.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank's stock valued at $10,369,000 after purchasing an additional 236,066 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank's stock worth $6,529,000 after purchasing an additional 338,050 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Brookline Bancorp in a report on Monday. They set a "hold" rating for the company. Keefe, Bruyette & Woods cut Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price on the stock. in a research note on Tuesday, December 24th. Finally, Raymond James raised Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price target for the company in a research report on Friday, December 20th.

Brookline Bancorp Stock Down 0.6 %

BRKL traded down $0.07 on Tuesday, hitting $11.12. The company had a trading volume of 485,645 shares, compared to its average volume of 526,548. The stock has a fifty day simple moving average of $11.74 and a 200-day simple moving average of $11.47. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a market capitalization of $990.85 million, a P/E ratio of 14.44 and a beta of 0.78. Brookline Bancorp, Inc. has a 52-week low of $8.01 and a 52-week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share 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, equities analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.135 per share. The ex-dividend date was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.86%. Brookline Bancorp's dividend payout ratio (DPR) is currently 70.13%.

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.