LSV Asset Management Sells 92,762 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

LSV Asset Management lowered its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 13.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 576,938 shares of the bank’s stock after selling 92,762 shares during the quarter. LSV Asset Management’s holdings in Brookline Bancorp were worth $6,294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in Brookline Bancorp by 2,268.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after acquiring an additional 2,200 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Brookline Bancorp by 7.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock worth $322,000 after purchasing an additional 2,373 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Brookline Bancorp in the fourth quarter worth about $34,000. Swiss National Bank boosted its stake in Brookline Bancorp by 1.7% during the third quarter. Swiss National Bank now owns 195,600 shares of the bank’s stock valued at $1,782,000 after buying an additional 3,300 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Brookline Bancorp by 13.4% during the 4th quarter. Victory Capital Management Inc. now owns 28,542 shares of the bank’s stock valued at $311,000 after buying an additional 3,363 shares in the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BRKL. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, Piper Sandler restated an “overweight” rating and set a $12.00 target price on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Brookline Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.08.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL opened at $8.79 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $788.02 million, a PE ratio of 9.45 and a beta of 0.79. The firm’s 50 day simple moving average is $9.33 and its 200-day simple moving average is $9.76. Brookline Bancorp, Inc. has a one year low of $7.42 and a one year high of $11.52.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio is 58.07%.

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.