Comerica Bank cut its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,453 shares of the company’s stock after selling 31,651 shares during the period. Comerica Bank owned about 0.21% of Brookline Bancorp worth $2,359,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of BRKL. Schwab Charles Investment Management Inc. increased its position in shares of Brookline Bancorp by 11.5% in the second quarter. Schwab Charles Investment Management, Inc. now owns 255,263 shares of the company’s stock valued at $2,816,000 after buying an additional 26,296 shares during the last quarter. Moody Aldrich Partners, LLC increased its position in shares of Brookline Bancorp by 12.1% in the third quarter. Moody Aldrich Partners, LLC now owns 260,592 shares of the company’s stock valued at $3,177,000 after buying an additional 28,070 shares during the last quarter. GWM Advisors, LLC increased its position in shares of Brookline Bancorp by 98.1% in the third quarter. GWM Advisors, LLC now owns 29,456 shares of the company’s stock valued at $359,000 after buying an additional 14,584 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Brookline Bancorp by 107.9% in the third quarter. Trust Co. of Vermont now owns 13,100 shares of the company’s stock valued at $160,000 after buying an additional 6,800 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Brookline Bancorp by 2.2% in the third quarter. Great West Life Assurance Co. Can now owns 98,459 shares of the company’s stock valued at $1,198,000 after buying an additional 2,126 shares during the last quarter. 77.36% of the stock is currently owned by institutional investors.
Brookline Bancorp, Inc. (NASDAQ:BRKL) opened at 15.40 on Friday. Brookline Bancorp, Inc. has a 52 week low of $10.40 and a 52 week high of $17.45. The stock has a market capitalization of $1.08 billion, a P/E ratio of 20.81 and a beta of 0.88. The company has a 50 day moving average of $15.81 and a 200 day moving average of $14.35.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 10th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Wednesday, February 8th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 48.65%.
Separately, Compass Point downgraded shares of Brookline Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, November 18th.
About Brookline Bancorp
Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England. The Company’s activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in Massachusetts and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services.
