Brookline Bancorp, Inc. (NASDAQ:BRKL) Stake Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,320,607 shares of the bank's stock after selling 166,620 shares during the period. Massachusetts Financial Services Co. MA owned 3.74% of Brookline Bancorp worth $36,228,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Brookline Bancorp by 2,268.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank's stock worth $25,000 after buying an additional 2,200 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Brookline Bancorp during the fourth quarter valued at about $34,000. Swiss National Bank increased its holdings in shares of Brookline Bancorp by 1.7% in the third quarter. Swiss National Bank now owns 195,600 shares of the bank's stock worth $1,782,000 after purchasing an additional 3,300 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Brookline Bancorp by 13.4% in the fourth quarter. Victory Capital Management Inc. now owns 28,542 shares of the bank's stock worth $311,000 after buying an additional 3,363 shares in the last quarter. Finally, Parsons Capital Management Inc. RI boosted its stake in Brookline Bancorp by 7.9% during the third quarter. Parsons Capital Management Inc. RI now owns 54,662 shares of the bank's stock valued at $498,000 after buying an additional 3,986 shares during the last quarter. Institutional investors own 78.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BRKL. StockNews.com upgraded Brookline Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, January 25th. Piper Sandler restated an "overweight" rating and issued a $12.00 target price on shares of Brookline Bancorp in a report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Brookline Bancorp from $12.00 to $10.50 and set a "market perform" rating for the company in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $11.08.

Brookline Bancorp Trading Up 0.4 %

BRKL stock traded up $0.04 during mid-day trading on Friday, reaching $9.10. The company had a trading volume of 265,104 shares, compared to its average volume of 443,698. The firm has a 50 day moving average of $9.21 and a 200 day moving average of $9.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp, Inc. has a 12 month low of $7.93 and a 12 month high of $11.52. The company has a market capitalization of $808.90 million, a PE ratio of 9.79 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.06). Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $91.77 million. On average, equities analysts predict that Brookline Bancorp, Inc. will post 0.81 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.135 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 5.93%. Brookline Bancorp's payout ratio is presently 58.07%.

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.