Bank of America Corp DE Has $6.71 Million Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Bank of America Corp DE decreased its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 568,807 shares of the bank's stock after selling 30,145 shares during the quarter. Bank of America Corp DE owned approximately 0.64% of Brookline Bancorp worth $6,712,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BRKL. Invesco Ltd. raised its position in shares of Brookline Bancorp by 118.8% during the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank's stock worth $12,295,000 after purchasing an additional 565,719 shares during the period. Pentwater Capital Management LP bought a new position in Brookline Bancorp in the 4th quarter worth approximately $5,900,000. JPMorgan Chase & Co. grew its holdings in Brookline Bancorp by 62.6% in the 4th 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. AQR Arbitrage LLC bought a new position in Brookline Bancorp in the 4th quarter worth approximately $4,747,000. Finally, Curi RMB Capital LLC bought a new position in Brookline Bancorp in the 4th quarter worth approximately $3,540,000. Institutional investors and hedge funds own 78.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on Brookline Bancorp in a research note on Monday, May 19th. They set a "hold" rating for the company.

Brookline Bancorp Stock Down 0.5%

Shares of BRKL traded down $0.06 during mid-day trading on Friday, reaching $10.42. The company's stock had a trading volume of 230,232 shares, compared to its average volume of 589,257. The business has a fifty day moving average of $10.43 and a 200 day moving average of $11.43. The company has a market cap of $928.03 million, a price-to-earnings ratio of 13.53 and a beta of 0.88. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced 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 analysts' expectations of $91.38 million. Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Friday, May 9th. Brookline Bancorp's payout ratio is 65.85%.

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.