SeaCrest Wealth Management LLC Lowers Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

SeaCrest Wealth Management LLC lessened its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 8.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,000 shares of the bank’s stock after selling 1,000 shares during the period. SeaCrest Wealth Management LLC’s holdings in Brookline Bancorp were worth $111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC grew its holdings in Brookline Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,640 shares of the bank’s stock valued at $176,000 after buying an additional 1,223 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Brookline Bancorp by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock valued at $338,000 after purchasing an additional 2,002 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Brookline Bancorp by 4.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock worth $435,000 after purchasing an additional 2,097 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Brookline Bancorp by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,413 shares of the bank’s stock worth $742,000 after purchasing an additional 3,040 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Brookline Bancorp by 7.1% in the 2nd quarter. Sei Investments Co. now owns 51,037 shares of the bank’s stock valued at $426,000 after purchasing an additional 3,397 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analysts Set New Price Targets

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 Stock Down 0.8 %

BRKL opened at $10.76 on Friday. Brookline Bancorp, Inc. has a 1 year low of $7.93 and a 1 year high of $11.52. The firm has a 50 day moving average price of $10.02 and a 200 day moving average price of $9.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $956.51 million, a PE ratio of 11.57 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 (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $161.75 million during the quarter, compared to analyst estimates of $89.40 million. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. During the same quarter in the prior year, the business earned $0.26 earnings per share. Sell-side analysts expect that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Friday, August 16th. Brookline Bancorp’s dividend payout ratio is presently 58.06%.

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.