State of New Jersey Common Pension Fund D Lowers Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

State of New Jersey Common Pension Fund D lessened its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 23.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 220,100 shares of the bank’s stock after selling 66,448 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brookline Bancorp were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BRKL. EntryPoint Capital LLC acquired a new stake in shares of Brookline Bancorp in the 1st quarter worth $47,000. CWM LLC lifted its position in Brookline Bancorp by 1,806.5% in the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after purchasing an additional 8,364 shares during the period. SG Americas Securities LLC acquired a new stake in Brookline Bancorp in the second quarter valued at about $102,000. EMC Capital Management purchased a new stake in Brookline Bancorp in the 1st quarter valued at approximately $140,000. Finally, Princeton Capital Management LLC acquired a new position in Brookline Bancorp during the 2nd quarter worth approximately $150,000. 78.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a report on Friday, July 26th.

Brookline Bancorp Trading Down 0.8 %

Shares of BRKL opened at $10.23 on Tuesday. The firm’s 50-day moving average is $10.01 and its two-hundred day moving average is $9.30. Brookline Bancorp, Inc. has a twelve month low of $7.93 and a twelve month high of $11.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $909.40 million, a P/E ratio of 11.00 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $161.75 million during the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same period last year, the business posted $0.26 EPS. On average, research analysts predict that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 58.06%.

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.