Louisiana State Employees Retirement System Sells 1,700 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Louisiana State Employees Retirement System lessened its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,000 shares of the bank’s stock after selling 1,700 shares during the period. Louisiana State Employees Retirement System’s holdings in Brookline Bancorp were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BRKL. American Century Companies Inc. boosted its holdings in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after acquiring an additional 249,113 shares during the period. AQR Capital Management LLC boosted its stake in shares of Brookline Bancorp by 47.5% during the second quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after purchasing an additional 158,329 shares during the period. Inspire Advisors LLC bought a new position in shares of Brookline Bancorp in the second quarter worth about $1,298,000. Hennion & Walsh Asset Management Inc. increased its stake in Brookline Bancorp by 4.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock worth $435,000 after buying an additional 2,097 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Brookline Bancorp in the 2nd quarter worth about $102,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

BRKL opened at $12.46 on Thursday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.87 and a beta of 0.76. The company has a current ratio of 1.13, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $12.57. The business’s fifty day simple moving average is $10.30 and its 200-day simple moving average is $9.51.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The company had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. During the same period in the prior year, the business earned $0.26 EPS. On average, equities research analysts anticipate that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently disclosed 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 4.33%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is 65.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their target price on shares of 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 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.