Brookline Bancorp, Inc. (NASDAQ:BRKL) Insider Sells $38,683.64 in Stock

Key Points

• Insider Janytra M. Brooks sold 3,763 shares of Brookline Bancorp at an average price of $10.28, totaling $38,683.64, leading to a 7.83% decrease in their position.
• The company recently declared a quarterly dividend of $0.135 per share, which equates to an annualized dividend of $0.54 and a yield of 5.3%.
• Brookline Bancorp's latest earnings report showed earnings per share of $0.25, meeting analysts' expectations, and a revenue of $94.66 million, slightly below estimates.

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) insider Janytra M. Brooks sold 3,763 shares of the firm's stock in a transaction on Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the transaction, the insider owned 44,322 shares in the company, valued at $455,630.16. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Brookline Bancorp Trading Up 1.1%

BRKL stock traded up $0.11 during midday trading on Friday, reaching $10.06. The stock had a trading volume of 186,916 shares, compared to its average volume of 544,480. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. Brookline Bancorp, Inc. has a twelve month low of $9.28 and a twelve month high of $13.15. The firm has a market cap of $896.00 million, a price-to-earnings ratio of 11.30 and a beta of 0.91. The business has a fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $10.90.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.25. Brookline Bancorp had a net margin of 12.12% and a return on equity of 6.69%. The firm had revenue of $94.66 million during the quarter, compared to analysts' expectations of $94.90 million. As a group, research analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Friday, August 8th. Brookline Bancorp's dividend payout ratio is 60.67%.

Institutional Trading of Brookline Bancorp

A number of institutional investors have recently modified their holdings of BRKL. KLP Kapitalforvaltning AS acquired a new stake in shares of Brookline Bancorp in the 4th quarter valued at approximately $211,000. LPL Financial LLC boosted its stake in Brookline Bancorp by 3.2% in the 4th quarter. LPL Financial LLC now owns 43,073 shares of the bank's stock valued at $508,000 after purchasing an additional 1,323 shares during the period. Vanguard Group Inc. increased its position in Brookline Bancorp by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank's stock worth $112,937,000 after buying an additional 45,448 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Brookline Bancorp by 62.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock worth $12,414,000 after buying an additional 404,897 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Brookline Bancorp by 44.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 508,027 shares of the bank's stock valued at $5,995,000 after acquiring an additional 155,304 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on Brookline Bancorp in a research report on Monday, May 19th. They issued a "hold" rating on the stock.

About Brookline Bancorp

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.