Cornercap Investment Counsel Inc. Sells 27,879 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Cornercap Investment Counsel Inc. lowered its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 51.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,005 shares of the bank’s stock after selling 27,879 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Brookline Bancorp were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRKL. BNP Paribas Financial Markets grew its position in shares of Brookline Bancorp by 58.7% during the 1st quarter. BNP Paribas Financial Markets now owns 61,475 shares of the bank’s stock worth $612,000 after buying an additional 22,749 shares during the period. Sei Investments Co. increased its stake in Brookline Bancorp by 26.2% in the first quarter. Sei Investments Co. now owns 47,640 shares of the bank’s stock valued at $474,000 after purchasing an additional 9,878 shares in the last quarter. ProShare Advisors LLC raised its holdings in Brookline Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock worth $176,000 after purchasing an additional 1,223 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Brookline Bancorp by 126.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 56,337 shares of the bank’s stock worth $592,000 after purchasing an additional 31,410 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Brookline Bancorp by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank’s stock worth $101,049,000 after buying an additional 54,211 shares during the period. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Stock Performance

NASDAQ BRKL opened at $12.16 on Tuesday. The stock has a market cap of $1.08 billion, a PE ratio of 14.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average of $10.73 and a 200-day moving average of $9.75. Brookline Bancorp, Inc. has a 52-week low of $8.01 and a 52-week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $88.67 million. During the same quarter last year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

Wall Street Analysts Forecast Growth

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

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.