Hennessy Advisors Inc. Decreases Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Hennessy Advisors Inc. trimmed its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,000 shares of the bank's stock after selling 79,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.28% of Brookline Bancorp worth $2,950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Brookline Bancorp by 109.4% during 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. Assenagon Asset Management S.A. grew its stake in shares of Brookline Bancorp by 67.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank's stock valued at $6,484,000 after buying an additional 258,267 shares during the period. American Century Companies Inc. increased its holdings in shares of Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank's stock worth $11,951,000 after buying an additional 249,113 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Brookline Bancorp by 47.5% during the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank's stock worth $4,106,000 after buying an additional 158,329 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Brookline Bancorp during the 2nd quarter valued at approximately $1,042,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRKL has been the subject of several recent analyst reports. StockNews.com assumed coverage on Brookline Bancorp in a research note on Saturday, January 11th. They set a "hold" rating for the company. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price objective on the stock. in a report on Tuesday, December 24th. Finally, Raymond James raised shares of Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 target price for the company in a research note on Friday, December 20th.

Brookline Bancorp Trading Up 0.7 %

Shares of BRKL traded up $0.08 during midday trading on Friday, hitting $12.00. 420,101 shares of the stock were exchanged, compared to its average volume of 878,047. Brookline Bancorp, Inc. has a 52-week low of $8.01 and a 52-week high of $13.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day simple moving average of $12.18 and a 200 day simple moving average of $10.82. The firm has a market cap of $1.07 billion, a P/E ratio of 14.46 and a beta of 0.79.

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

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 annualized dividend and a yield of 4.50%. Brookline Bancorp's dividend payout ratio is presently 65.06%.

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.