Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 41.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,908,477 shares of the bank’s stock after selling 2,063,240 shares during the quarter. Jennison Associates LLC owned 3.27% of Brookline Bancorp worth $29,347,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Brookline Bancorp in the 1st quarter worth approximately $47,000. CWM LLC lifted its stake in shares of Brookline Bancorp by 1,806.5% during the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after buying an additional 8,364 shares during the period. Creative Planning purchased a new stake in shares of Brookline Bancorp during the third quarter valued at $103,000. Alta Wealth Advisors LLC acquired a new position in shares of Brookline Bancorp in the 3rd quarter valued at $117,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Brookline Bancorp in the 3rd quarter worth $118,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

Brookline Bancorp Trading Up 1.9 %

NASDAQ BRKL opened at $12.26 on Friday. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $1.09 billion, a PE ratio of 14.77 and a beta of 0.76. The company has a fifty day moving average of $10.87 and a 200 day moving average of $9.80.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results 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. The firm had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter in the prior year, the firm earned $0.26 EPS. Research analysts forecast that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm 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 dividend of $0.135 per share. The ex-dividend date is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.40%. Brookline Bancorp’s payout ratio is presently 65.06%.

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.