Charles Schwab Investment Management Inc. Has $10.26 Million Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Charles Schwab Investment Management Inc. cut its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,016,403 shares of the bank’s stock after selling 81,361 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Brookline Bancorp were worth $10,256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC boosted its position in Brookline Bancorp by 1,806.5% during 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 last quarter. SG Americas Securities LLC acquired a new position in Brookline Bancorp during the second quarter valued at approximately $102,000. Creative Planning bought a new position in Brookline Bancorp in the 3rd quarter worth $103,000. XTX Topco Ltd bought a new stake in Brookline Bancorp during the second quarter valued at about $115,000. Finally, Point72 DIFC Ltd bought a new position in shares of Brookline Bancorp in the second quarter worth about $116,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $14.50 in a research report on Wednesday, December 4th.

Brookline Bancorp Price Performance

Shares of BRKL stock opened at $12.58 on Tuesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 15.16 and a beta of 0.78. The stock’s fifty day simple moving average is $11.47 and its 200 day simple moving average is $10.13. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $13.15. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The company had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same period in the prior year, the company posted $0.26 EPS. On average, analysts expect that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 annualized dividend and a yield of 4.29%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

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.