Beese Fulmer Investment Management Inc. Trims Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Beese Fulmer Investment Management Inc. reduced its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 9.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,368 shares of the bank’s stock after selling 1,964 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Brookline Bancorp were worth $195,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Brookline Bancorp during the 1st quarter valued at about $47,000. CWM LLC boosted its holdings in shares of 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 bought a new position in Brookline Bancorp in the second quarter worth approximately $102,000. Creative Planning bought a new position in Brookline Bancorp in the third quarter worth approximately $103,000. Finally, XTX Topco Ltd purchased a new position in Brookline Bancorp during the 2nd quarter worth $115,000. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Trading Up 0.5 %

NASDAQ:BRKL opened at $10.54 on Friday. The firm has a 50-day simple moving average of $10.09 and a 200-day simple moving average of $9.39. Brookline Bancorp, Inc. has a one year low of $7.93 and a one year high of $11.52. The firm has a market cap of $936.95 million, a P/E ratio of 11.33 and a beta of 0.78. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $161.75 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.26 earnings per share. Equities analysts anticipate that Brookline Bancorp, Inc. will post 0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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