Vanguard Group Inc. Trims Stock Holdings in Brookline Bancorp, Inc. $BRKL

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

A number of other hedge funds have also recently made changes to their positions in BRKL. ABC Arbitrage SA raised its holdings in shares of Brookline Bancorp by 2.9% in the 1st quarter. ABC Arbitrage SA now owns 61,656 shares of the bank's stock worth $672,000 after acquiring an additional 1,745 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Brookline Bancorp by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock worth $53,000 after purchasing an additional 1,199 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Brookline Bancorp in the first quarter worth approximately $1,535,000. XTX Topco Ltd raised its stake in shares of Brookline Bancorp by 77.2% in the first quarter. XTX Topco Ltd now owns 33,233 shares of the bank's stock worth $362,000 after purchasing an additional 14,475 shares during the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of Brookline Bancorp by 22.7% in the first quarter. Inspire Advisors LLC now owns 227,859 shares of the bank's stock valued at $2,484,000 after purchasing an additional 42,080 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Performance

BRKL traded down $0.13 during trading on Monday, hitting $11.03. 376,075 shares of the company traded hands, compared to its average volume of 540,127. Brookline Bancorp, Inc. has a one year low of $9.28 and a one year high of $13.15. The stock's fifty day moving average is $10.67 and its 200 day moving average is $10.76. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. The firm has a market cap of $982.88 million, a P/E ratio of 12.00 and a beta of 0.91.

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, hitting the consensus estimate of $0.25. Brookline Bancorp had a net margin of 12.12% and a return on equity of 6.69%. The company had revenue of $94.66 million during the quarter, compared to analyst estimates of $94.90 million. As a group, equities analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Brookline Bancorp's dividend payout ratio is currently 60.67%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Brookline Bancorp to a "hold" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.25.

Insider Buying and Selling at Brookline Bancorp

In other news, insider Janytra M. Brooks sold 3,763 shares of the stock in a transaction on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the transaction, the insider owned 44,322 shares in the company, valued at approximately $455,630.16. This represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.55% of the company's stock.

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.