Hennessy Advisors Inc. Reduces Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Hennessy Advisors Inc. reduced its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,000 shares of the bank's stock after selling 80,000 shares during the quarter. Hennessy Advisors Inc. owned 0.19% of Brookline Bancorp worth $1,853,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC boosted its position in Brookline Bancorp by 805.4% in the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank's stock valued at $33,000 after buying an additional 2,513 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in shares of Brookline Bancorp during the 4th quarter worth about $35,000. C M Bidwell & Associates Ltd. acquired a new position in Brookline Bancorp during the fourth quarter worth $72,000. Focus Partners Wealth bought a new position in shares of Brookline Bancorp during the 4th quarter worth approximately $121,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Brookline Bancorp during the fourth quarter worth approximately $129,000. Hedge funds and other institutional investors own 78.91% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on shares of Brookline Bancorp in a report on Monday, May 19th. They set a "hold" rating on the stock.

Brookline Bancorp Stock Performance

Shares of BRKL traded down $0.04 during mid-day trading on Monday, hitting $10.19. The stock had a trading volume of 641,170 shares, compared to its average volume of 595,022. Brookline Bancorp, Inc. has a 52 week low of $8.07 and a 52 week high of $13.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The business has a fifty day moving average price of $10.39 and a 200-day moving average price of $11.25. The firm has a market cap of $907.98 million, a P/E ratio of 13.23 and a beta of 0.89.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. The business had revenue of $91.49 million during the quarter, compared to the consensus estimate of $91.38 million. On average, equities research analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 5.30%. Brookline Bancorp's payout ratio is presently 65.85%.

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.