Beese Fulmer Investment Management Inc. Lowers Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Beese Fulmer Investment Management Inc. trimmed its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 9.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,368 shares of the bank’s stock after selling 1,964 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Brookline Bancorp were worth $195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in shares of Brookline Bancorp during the first quarter valued at about $47,000. CWM LLC grew its holdings in Brookline Bancorp by 1,806.5% during the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after buying an additional 8,364 shares in the last quarter. Creative Planning bought a new stake in Brookline Bancorp in the 3rd quarter worth approximately $103,000. Alta Wealth Advisors LLC purchased a new stake in shares of Brookline Bancorp during the 3rd quarter worth approximately $117,000. Finally, SG Americas Securities LLC bought a new position in shares of Brookline Bancorp during the 2nd quarter valued at approximately $102,000. 78.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th.

Brookline Bancorp Trading Up 0.5 %

BRKL opened at $10.54 on Friday. Brookline Bancorp, Inc. has a 12 month low of $7.93 and a 12 month high of $11.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $10.09 and a 200 day moving average of $9.39. The firm has a market cap of $936.95 million, a P/E ratio of 11.33 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $161.75 million for the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, research analysts forecast that Brookline Bancorp, Inc. will post 0.77 EPS for the current year.

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.