Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,744 shares of the bank’s stock after selling 2,320 shares during the quarter. Congress Asset Management Co. owned about 0.28% of Brookline Bancorp worth $2,490,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Brookline Bancorp during the 1st quarter valued at $47,000. CWM LLC grew its stake in shares of Brookline Bancorp by 1,806.5% during the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after acquiring an additional 8,364 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Brookline Bancorp during the second quarter worth about $102,000. Creative Planning purchased a new stake in shares of Brookline Bancorp during the third quarter worth about $103,000. Finally, XTX Topco Ltd acquired a new position in shares of Brookline Bancorp in the second quarter worth about $115,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research note on Friday, July 26th.

Brookline Bancorp Price Performance

BRKL opened at $11.27 on Friday. The company has a market capitalization of $1.00 billion, a P/E ratio of 13.58 and a beta of 0.78. The company has a 50-day moving average of $10.26 and a 200-day moving average of $9.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.11 and a current ratio of 1.13. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $11.63.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The firm had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. During the same period in the previous year, the company earned $0.26 earnings per share. Equities analysts expect that Brookline Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

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.