Charles Schwab Investment Management Inc. Lowers Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Charles Schwab Investment Management Inc. lessened its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 939,755 shares of the bank’s stock after selling 76,648 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Brookline Bancorp were worth $11,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,595 shares during the period. FMR LLC lifted its stake in shares of Brookline Bancorp by 174.9% in the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after purchasing an additional 3,279 shares during the period. KBC Group NV lifted its stake in shares of Brookline Bancorp by 60.3% in the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,421 shares during the period. Townsquare Capital LLC purchased a new position in shares of Brookline Bancorp in the 3rd quarter valued at approximately $111,000. Finally, iSAM Funds UK Ltd purchased a new position in Brookline Bancorp during the third quarter valued at $123,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $10.86 on Friday. The stock’s 50-day simple moving average is $11.74 and its 200-day simple moving average is $11.45. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a market capitalization of $967.68 million, a price-to-earnings ratio of 14.10 and a beta of 0.78. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, analysts expect that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.135 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.97%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 70.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research note on Tuesday, December 24th. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Friday, December 20th. Finally, StockNews.com assumed coverage on Brookline Bancorp in a research note on Sunday, March 16th. They set a “hold” rating for the company.

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.