CM Management LLC Cuts Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

CM Management LLC lowered its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,000 shares of the bank's stock after selling 45,000 shares during the period. Brookline Bancorp makes up about 1.8% of CM Management LLC's holdings, making the stock its 23rd biggest position. CM Management LLC owned 0.20% of Brookline Bancorp worth $2,124,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Brookline Bancorp during the 4th quarter worth about $744,000. Keybank National Association OH boosted its holdings in Brookline Bancorp by 46.9% in the fourth quarter. Keybank National Association OH now owns 24,628 shares of the bank's stock worth $291,000 after acquiring an additional 7,864 shares in the last quarter. Ieq Capital LLC grew its stake in Brookline Bancorp by 327.8% in the fourth quarter. Ieq Capital LLC now owns 54,402 shares of the bank's stock valued at $642,000 after acquiring an additional 41,685 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Brookline Bancorp by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 432,069 shares of the bank's stock valued at $5,098,000 after acquiring an additional 12,999 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Brookline Bancorp by 9.2% during the fourth quarter. Congress Asset Management Co. now owns 269,338 shares of the bank's stock valued at $3,178,000 after acquiring an additional 22,594 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

BRKL has been the subject of several research reports. Raymond James raised shares of 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. Keefe, Bruyette & Woods cut shares of Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price objective for the company. in a report on Tuesday, December 24th. Finally, StockNews.com assumed coverage on shares of Brookline Bancorp in a research report on Saturday. They set a "hold" rating for the company.

Brookline Bancorp Stock Up 0.7 %

NASDAQ BRKL traded up $0.08 on Wednesday, reaching $10.85. The company had a trading volume of 475,535 shares, compared to its average volume of 525,883. 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 company's fifty day moving average is $11.86 and its 200 day moving average is $11.42. 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 $966.79 million, a P/E ratio of 14.09 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced 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%. Sell-side analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp's dividend payout ratio is presently 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.