Brookline Bancorp, Inc. (NASDAQ:BRKL) Stake Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 32.0% in the first quarter, Holdings Channel.com reports. The firm owned 170,000 shares of the bank’s stock after selling 80,000 shares during the period. Hennessy Advisors Inc.’s holdings in Brookline Bancorp were worth $1,853,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BRKL. ABC Arbitrage SA purchased a new stake in shares of Brookline Bancorp in the fourth quarter valued at $707,000. Rhumbline Advisers raised its holdings in shares of Brookline Bancorp by 1.5% during the fourth quarter. Rhumbline Advisers now owns 276,256 shares of the bank’s stock worth $3,260,000 after acquiring an additional 4,125 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Brookline Bancorp by 9.2% during the fourth quarter. Congress Asset Management Co. now owns 269,338 shares of the bank’s stock worth $3,178,000 after acquiring an additional 22,594 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookline Bancorp by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 432,069 shares of the bank’s stock worth $5,098,000 after acquiring an additional 12,999 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Brookline Bancorp by 327.8% during the fourth quarter. Ieq Capital LLC now owns 54,402 shares of the bank’s stock worth $642,000 after acquiring an additional 41,685 shares in the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $10.23 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. Brookline Bancorp, Inc. has a 1 year low of $8.07 and a 1 year high of $13.15. The business has a fifty day simple moving average of $10.39 and a 200 day simple moving average of $11.25. The firm has a market cap of $911.54 million, a price-to-earnings ratio of 13.29 and a beta of 0.89.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $91.49 million for the quarter, compared to analyst estimates of $91.38 million. Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. As a group, sell-side analysts predict that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend was Friday, May 9th. Brookline Bancorp’s payout ratio is 65.85%.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on Brookline Bancorp in a report on Monday, May 19th. They set a “hold” rating for the company.

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.