Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lowered its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,554 shares of the bank’s stock after selling 1,800 shares during the period. Crestwood Advisors Group LLC’s holdings in Brookline Bancorp were worth $148,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Mutual of America Capital Management LLC raised its position in shares of Brookline Bancorp by 12.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 516,761 shares of the bank’s stock worth $5,638,000 after acquiring an additional 58,170 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Brookline Bancorp during the fourth quarter worth about $134,000. Nisa Investment Advisors LLC increased its stake in shares of Brookline Bancorp by 2,268.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock worth $25,000 after purchasing an additional 2,200 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of Brookline Bancorp by 19.6% during the fourth quarter. Hennessy Advisors Inc. now owns 275,000 shares of the bank’s stock worth $3,000,000 after purchasing an additional 45,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Brookline Bancorp by 71.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 427,950 shares of the bank’s stock worth $4,669,000 after purchasing an additional 178,733 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Stock Performance

Brookline Bancorp stock opened at $9.14 on Tuesday. The firm has a 50 day simple moving average of $9.67 and a 200-day simple moving average of $9.78. Brookline Bancorp, Inc. has a 1-year low of $7.00 and a 1-year high of $11.52. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $819.36 million, a price-to-earnings ratio of 10.63 and a beta of 0.75.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. The business had revenue of $160.35 million during the quarter, compared to analysts’ expectations of $89.38 million. During the same quarter in the prior year, the company posted $0.39 EPS. On average, analysts expect that Brookline Bancorp, Inc. will post 0.97 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.135 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.54 annualized dividend and a dividend yield of 5.91%. Brookline Bancorp’s dividend payout ratio is currently 62.79%.

Analyst Upgrades and Downgrades

BRKL has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $12.00 target price on shares of Brookline Bancorp in a research note on Wednesday, March 27th. TheStreet raised shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Finally, StockNews.com raised shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

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.