Hennessy Advisors Inc. Reduces Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Hennessy Advisors Inc. lowered its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 24.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,000 shares of the bank’s stock after selling 79,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.28% of Brookline Bancorp worth $2,950,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its stake in Brookline Bancorp by 38.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 107,343 shares of the bank’s stock valued at $896,000 after purchasing an additional 29,568 shares during the last quarter. American Century Companies Inc. boosted its position in Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after acquiring an additional 249,113 shares during the last quarter. Renaissance Technologies LLC grew its stake in Brookline Bancorp by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock worth $10,587,000 after acquiring an additional 59,317 shares during the period. XTX Topco Ltd acquired a new position in Brookline Bancorp in the 2nd quarter valued at $115,000. Finally, Intech Investment Management LLC purchased a new position in shares of Brookline Bancorp during the 2nd quarter worth $341,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Brookline Bancorp Trading Up 0.7 %

Shares of BRKL opened at $12.00 on Friday. Brookline Bancorp, Inc. has a twelve month low of $8.01 and a twelve month high of $13.15. The firm has a market capitalization of $1.07 billion, a P/E ratio of 14.46 and a beta of 0.79. 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’s fifty day simple moving average is $12.18 and its 200 day simple moving average is $10.82.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the business posted $0.26 EPS. On average, equities 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 was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.50%. Brookline Bancorp’s dividend payout ratio (DPR) is 65.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BRKL shares. Raymond James raised 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 report on Friday, December 20th. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research note on Tuesday, December 24th. Finally, StockNews.com started coverage on Brookline Bancorp in a report on Saturday, January 11th. They issued a “hold” rating for the company.

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.