Assenagon Asset Management S.A. Sells 359,608 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Assenagon Asset Management S.A. lowered its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 40.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,109 shares of the bank's stock after selling 359,608 shares during the period. Assenagon Asset Management S.A. owned approximately 0.58% of Brookline Bancorp worth $5,658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Brookline Bancorp by 18.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 56,295 shares of the bank's stock valued at $614,000 after buying an additional 8,905 shares during the period. GAMMA Investing LLC grew its position in Brookline Bancorp by 920.9% during the first quarter. GAMMA Investing LLC now owns 14,497 shares of the bank's stock valued at $158,000 after purchasing an additional 13,077 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Brookline Bancorp by 39.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,293 shares of the bank's stock valued at $192,000 after acquiring an additional 4,612 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Brookline Bancorp in the 4th quarter worth about $1,855,000. Finally, Pinney & Scofield Inc. acquired a new position in Brookline Bancorp in the fourth quarter worth approximately $35,000. Institutional investors own 78.91% of the company's stock.

Brookline Bancorp Stock Performance

Brookline Bancorp stock traded up $0.14 during trading hours on Monday, reaching $10.37. 54,790 shares of the company were exchanged, compared to its average volume of 592,720. Brookline Bancorp, Inc. has a 12 month low of $8.07 and a 12 month high of $13.15. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $10.39 and a 200 day moving average of $11.25. The firm has a market cap of $923.57 million, a price-to-earnings ratio of 13.44 and a beta of 0.89.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $91.49 million for the quarter, compared to the consensus estimate of $91.38 million. Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, research analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.21%. The ex-dividend date was Friday, May 9th. Brookline Bancorp's dividend payout ratio is currently 65.85%.

Analysts Set New Price Targets

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

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.