LSV Asset Management Sells 92,762 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

LSV Asset Management reduced its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 576,938 shares of the bank’s stock after selling 92,762 shares during the period. LSV Asset Management owned about 0.65% of Brookline Bancorp worth $6,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BRKL. Nisa Investment Advisors LLC increased its position in Brookline Bancorp by 2,268.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after acquiring an additional 2,200 shares during the period. GAMMA Investing LLC acquired a new stake in Brookline Bancorp in the fourth quarter valued at $34,000. Advisor Partners II LLC bought a new position in Brookline Bancorp during the 3rd quarter worth $104,000. Fox Run Management L.L.C. acquired a new position in Brookline Bancorp during the 3rd quarter worth about $106,000. Finally, Ieq Capital LLC bought a new stake in shares of Brookline Bancorp in the 3rd quarter valued at about $110,000. Institutional investors own 78.91% of the company’s stock.

Analysts Set New Price Targets

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

Brookline Bancorp Price Performance

Brookline Bancorp stock opened at $8.79 on Thursday. The stock has a market capitalization of $788.02 million, a price-to-earnings ratio of 9.45 and a beta of 0.79. The stock’s 50 day moving average price is $9.33 and its two-hundred day moving average price is $9.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.10 and a current ratio of 1.10. Brookline Bancorp, Inc. has a 52-week low of $7.42 and a 52-week high of $11.52.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 6.14%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.07%.

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.