Louisiana State Employees Retirement System Cuts Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Louisiana State Employees Retirement System cut its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.8% in the third quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BRKL. Assenagon Asset Management S.A. raised its stake in shares of Brookline Bancorp by 67.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after acquiring an additional 258,267 shares in the last quarter. Alta Wealth Advisors LLC purchased a new position in Brookline Bancorp in the third quarter worth $117,000. Inspire Advisors LLC grew its holdings in Brookline Bancorp by 12.2% in the third quarter. Inspire Advisors LLC now owns 174,523 shares of the bank’s stock worth $1,761,000 after purchasing an additional 19,020 shares during the last quarter. Mayport LLC increased its position in shares of Brookline Bancorp by 54.2% during the third quarter. Mayport LLC now owns 28,437 shares of the bank’s stock worth $287,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Brookline Bancorp during the 3rd quarter valued at $103,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Up 11.2 %

BRKL stock opened at $12.46 on Thursday. The stock has a market capitalization of $1.11 billion, a PE ratio of 14.87 and a beta of 0.76. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $12.57. The company has a quick ratio of 1.11, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average of $10.30 and a 200 day moving average of $9.51.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $165.91 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.26 earnings per share. Sell-side analysts forecast that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.33%. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price 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.

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.