Cornercap Investment Counsel Inc. Has $262,000 Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Cornercap Investment Counsel Inc. lowered its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 51.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 26,005 shares of the bank’s stock after selling 27,879 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Brookline Bancorp were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Brookline Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 10,145,485 shares of the bank’s stock worth $101,049,000 after purchasing an additional 54,211 shares during the period. American Century Companies Inc. raised its holdings in shares of Brookline Bancorp by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after acquiring an additional 249,113 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Brookline Bancorp by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,267,888 shares of the bank’s stock worth $10,587,000 after purchasing an additional 59,317 shares in the last quarter. Bank of New York Mellon Corp raised its position in Brookline Bancorp by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock valued at $9,868,000 after buying an additional 56,291 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after purchasing an additional 258,267 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Performance

NASDAQ BRKL opened at $12.16 on Tuesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 14.65 and a beta of 0.76. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15. The company’s 50 day simple moving average is $10.73 and its two-hundred day simple moving average is $9.75. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the previous year, the company posted $0.26 EPS. Analysts predict that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.135 per share. The ex-dividend date is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.44%. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Analysts Set New Price Targets

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

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.