Point72 Asia Singapore Pte. Ltd. Sells 974 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Point72 Asia Singapore Pte. Ltd. trimmed its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 26.9% in the third quarter, HoldingsChannel.com reports. The firm owned 2,646 shares of the bank’s stock after selling 974 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Brookline Bancorp were worth $27,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Brookline Bancorp by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Brookline Bancorp by 384.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock valued at $599,000 after acquiring an additional 47,094 shares during the last quarter. Intech Investment Management LLC grew its holdings in Brookline Bancorp by 56.8% during the 3rd quarter. Intech Investment Management LLC now owns 64,001 shares of the bank’s stock worth $646,000 after acquiring an additional 23,172 shares during the period. AQR Capital Management LLC raised its position in shares of Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after acquiring an additional 158,329 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of Brookline Bancorp in the 2nd quarter valued at about $1,298,000. 78.91% of the stock is owned by institutional investors and hedge funds.

Brookline Bancorp Trading Up 0.1 %

NASDAQ:BRKL opened at $12.62 on Monday. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.20 and a beta of 0.78. The firm has a fifty day simple moving average of $11.42 and a two-hundred day simple moving average of $10.11.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS 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 company had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the business posted $0.26 EPS. Analysts expect that Brookline Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.28%. Brookline Bancorp’s dividend payout ratio is 65.06%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $14.50 in a research note on Wednesday, December 4th.

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.