Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lessened its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 10.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 103,199 shares of the bank’s stock after selling 12,586 shares during the period. Rafferty Asset Management LLC’s holdings in Brookline Bancorp were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BRKL. ProShare Advisors LLC lifted its holdings in Brookline Bancorp by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 26,605 shares of the bank’s stock valued at $314,000 after acquiring an additional 8,186 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Brookline Bancorp by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,139 shares of the bank’s stock valued at $592,000 after purchasing an additional 1,859 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Brookline Bancorp in the 4th quarter valued at $121,000. Deutsche Bank AG boosted its holdings in Brookline Bancorp by 55.9% during the fourth quarter. Deutsche Bank AG now owns 74,903 shares of the bank’s stock worth $884,000 after buying an additional 26,856 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in Brookline Bancorp by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 455,130 shares of the bank’s stock worth $5,371,000 after buying an additional 12,440 shares in the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Stock Down 3.5%

Shares of BRKL opened at $10.56 on Thursday. The firm has a market cap of $940.95 million, a P/E ratio of 13.71 and a beta of 0.88. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15. The stock’s 50 day moving average is $10.49 and its two-hundred day moving average is $11.49. 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 (NASDAQ:BRKL) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $91.49 million during the quarter, compared to analyst estimates of $91.38 million. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Analysts predict that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.135 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 5.11%. Brookline Bancorp’s dividend payout ratio (DPR) is 65.85%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Brookline Bancorp in a research report on Monday. They issued 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.