State of New Jersey Common Pension Fund D Sells 25,058 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

State of New Jersey Common Pension Fund D cut its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 11.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,042 shares of the bank’s stock after selling 25,058 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brookline Bancorp were worth $1,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Brookline Bancorp during the first quarter valued at approximately $47,000. CWM LLC boosted its position in shares of Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after purchasing an additional 8,364 shares in the last quarter. Creative Planning purchased a new position in Brookline Bancorp in the 3rd quarter worth $103,000. Alta Wealth Advisors LLC purchased a new position in Brookline Bancorp in the 3rd quarter worth $117,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Brookline Bancorp in the 3rd quarter valued at about $118,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Down 1.9 %

Shares of Brookline Bancorp stock opened at $12.41 on Monday. The company has a market capitalization of $1.11 billion, a P/E ratio of 14.95 and a beta of 0.76. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The business has a 50 day moving average price of $10.68 and a 200 day moving average price of $9.72.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. During the same quarter in the prior year, the business posted $0.26 EPS. Sell-side analysts anticipate 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 $0.135 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.35%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on 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 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.