Bank of New York Mellon Corp Sells 50,604 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Bank of New York Mellon Corp lessened its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,094,757 shares of the bank's stock after selling 50,604 shares during the period. Bank of New York Mellon Corp owned approximately 1.22% of Brookline Bancorp worth $11,933,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Brookline Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank's stock worth $112,937,000 after acquiring an additional 45,448 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Brookline Bancorp by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,255,331 shares of the bank's stock valued at $62,013,000 after buying an additional 100,610 shares during the period. American Century Companies Inc. boosted its stake in shares of Brookline Bancorp by 17.0% in the fourth quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock valued at $22,465,000 after buying an additional 276,025 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Brookline Bancorp by 62.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock valued at $12,414,000 after buying an additional 404,897 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Brookline Bancorp by 118.8% in the fourth quarter. Invesco Ltd. now owns 1,041,930 shares of the bank's stock valued at $12,295,000 after buying an additional 565,719 shares during the period. Institutional investors own 78.91% of the company's stock.

Brookline Bancorp Price Performance

Shares of BRKL stock traded down $0.22 during trading on Thursday, hitting $10.78. The company had a trading volume of 1,004,738 shares, compared to its average volume of 587,502. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $960.61 million, a P/E ratio of 12.11 and a beta of 0.88. The stock's 50-day moving average price is $10.67 and its 200 day moving average price is $10.99. Brookline Bancorp, Inc. has a one year low of $9.24 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Brookline Bancorp had a return on equity of 6.72% and a net margin of 12.12%. The business had revenue of $94.66 million during the quarter, compared to analysts' expectations of $94.90 million. Equities analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Friday, August 8th. Brookline Bancorp's payout ratio is presently 65.85%.

Analyst Ratings Changes

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

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.