Brookline Bancorp, Inc. $BRKL Stock Holdings Lessened by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Brookline Bancorp by 2.2%, selling 206,785 shares and retaining 9,364,179 shares, representing a total value of $102 million.
• Brookline Bancorp recently announced a quarterly dividend of $0.135, with an annualized dividend yield of 4.8% and a payout ratio of 60.67%.
• Analysts have mixed ratings on Brookline Bancorp, with a consensus rating of "Buy" and a target price of $15.25.

Vanguard Group Inc. reduced its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,364,179 shares of the bank's stock after selling 206,785 shares during the period. Vanguard Group Inc. owned 10.41% of Brookline Bancorp worth $102,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ABC Arbitrage SA boosted its position in shares of Brookline Bancorp by 2.9% during the first quarter. ABC Arbitrage SA now owns 61,656 shares of the bank's stock worth $672,000 after buying an additional 1,745 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Brookline Bancorp by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock worth $53,000 after buying an additional 1,199 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Brookline Bancorp during the first quarter worth approximately $1,535,000. XTX Topco Ltd boosted its position in shares of Brookline Bancorp by 77.2% during the first quarter. XTX Topco Ltd now owns 33,233 shares of the bank's stock worth $362,000 after buying an additional 14,475 shares during the period. Finally, Inspire Advisors LLC boosted its position in shares of Brookline Bancorp by 22.7% during the first quarter. Inspire Advisors LLC now owns 227,859 shares of the bank's stock worth $2,484,000 after buying an additional 42,080 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Brookline Bancorp to a "hold" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Brookline Bancorp presently has a consensus rating of "Buy" and an average price target of $15.25.

Insider Activity

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the company's stock in a transaction on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total value of $38,683.64. Following the transaction, the insider owned 44,322 shares of the company's stock, valued at approximately $455,630.16. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.89% of the company's stock.

Brookline Bancorp Price Performance

NASDAQ:BRKL traded down $0.10 during midday trading on Thursday, hitting $11.02. 1,473,909 shares of the stock were exchanged, compared to its average volume of 581,475. Brookline Bancorp, Inc. has a one year low of $9.28 and a one year high of $13.15. The company has a market capitalization of $981.99 million, a price-to-earnings ratio of 12.38 and a beta of 0.91. The business has a 50-day moving average price of $10.75 and a two-hundred day moving average price of $10.74. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.92.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%.The firm had revenue of $94.66 million for the quarter, compared to analysts' expectations of $94.90 million. Sell-side analysts predict 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, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 4.9%. Brookline Bancorp's dividend payout ratio is currently 60.67%.

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.