Charles Schwab Investment Management Inc. Sells 81,361 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Charles Schwab Investment Management Inc. lessened its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,016,403 shares of the bank's stock after selling 81,361 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.14% of Brookline Bancorp worth $10,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BRKL. Price T Rowe Associates Inc. MD raised its position in Brookline Bancorp by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank's stock worth $742,000 after purchasing an additional 3,040 shares during the period. CWM LLC grew its holdings in Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank's stock worth $74,000 after acquiring an additional 8,364 shares during the last quarter. SG Americas Securities LLC bought a new stake in Brookline Bancorp in the 2nd quarter worth $102,000. Hennion & Walsh Asset Management Inc. grew its holdings in Brookline Bancorp by 4.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank's stock worth $435,000 after acquiring an additional 2,097 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in Brookline Bancorp by 1.6% in the 2nd quarter. Hennessy Advisors Inc. now owns 320,000 shares of the bank's stock worth $2,672,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company's stock.

Brookline Bancorp Trading Up 0.5 %

Shares of BRKL traded up $0.06 during trading hours on Tuesday, reaching $12.64. 720,870 shares of the company traded hands, compared to its average volume of 516,144. The company's fifty day moving average price is $11.47 and its two-hundred day moving average price is $10.13. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.16 and a beta of 0.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The firm had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter in the previous year, the firm posted $0.26 EPS. Equities research analysts predict that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp's payout ratio is 65.06%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised shares of Brookline Bancorp from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $12.00 to $14.50 in a report on Wednesday, December 4th.

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.