Corebridge Financial Inc. Sells 3,665 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Corebridge Financial Inc. reduced its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 47,003 shares of the bank’s stock after selling 3,665 shares during the quarter. Corebridge Financial Inc.’s holdings in Brookline Bancorp were worth $555,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Brookline Bancorp by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank’s stock worth $112,937,000 after buying an additional 45,448 shares in the last quarter. State Street Corp lifted its holdings in shares of Brookline Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock worth $41,667,000 after acquiring an additional 21,345 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Brookline Bancorp by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock valued at $21,084,000 after purchasing an additional 26,714 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Brookline Bancorp by 17.0% in the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank’s stock worth $22,465,000 after purchasing an additional 276,025 shares during the period. 78.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BRKL shares. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a research report on Tuesday, December 24th. StockNews.com started coverage on Brookline Bancorp in a research report on Tuesday, April 1st. They set a “hold” rating on the stock. Finally, Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Friday, December 20th.

Brookline Bancorp Price Performance

BRKL stock opened at $9.80 on Tuesday. The stock has a market capitalization of $873.23 million, a price-to-earnings ratio of 12.73 and a beta of 0.71. The firm’s 50-day moving average price is $11.48 and its two-hundred day moving average price is $11.52. 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, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15.

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

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.51%. Brookline Bancorp’s dividend payout ratio is presently 70.13%.

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.