CM Management LLC Sells 45,000 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

CM Management LLC decreased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 20.0% during the 4th quarter, Holdings Channel reports. The firm owned 180,000 shares of the bank’s stock after selling 45,000 shares during the quarter. Brookline Bancorp makes up 1.8% of CM Management LLC’s investment portfolio, making the stock its 23rd biggest holding. CM Management LLC’s holdings in Brookline Bancorp were worth $2,124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BRKL. JPMorgan Chase & Co. grew its stake in Brookline Bancorp by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after buying an additional 338,050 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Brookline Bancorp by 36.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock valued at $10,369,000 after purchasing an additional 236,066 shares in the last quarter. Jennison Associates LLC raised its position in Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock valued at $36,974,000 after purchasing an additional 224,888 shares during the last quarter. Barclays PLC boosted its stake in Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after purchasing an additional 106,345 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Brookline Bancorp in the fourth quarter worth $744,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research report on Tuesday, December 24th. StockNews.com initiated coverage on Brookline Bancorp in a report on Saturday. They set a “hold” rating for the company. Finally, Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Friday, December 20th.

Brookline Bancorp Stock Down 0.5 %

BRKL stock opened at $11.02 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market capitalization of $981.86 million, a P/E ratio of 14.31 and a beta of 0.78. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The business has a 50-day moving average of $11.90 and a 200-day moving average of $11.40.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, sell-side analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.135 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.90%. Brookline Bancorp’s payout ratio is currently 70.13%.

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.