Mayflower Financial Advisors LLC Lowers Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Mayflower Financial Advisors LLC decreased its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 11.6% during the second quarter, HoldingsChannel reports. The firm owned 11,818 shares of the bank’s stock after selling 1,549 shares during the period. Mayflower Financial Advisors LLC’s holdings in Brookline Bancorp were worth $99,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in shares of Brookline Bancorp in the first quarter worth about $47,000. CWM LLC increased 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 worth $74,000 after buying an additional 8,364 shares during the period. SG Americas Securities LLC purchased a new position in shares of Brookline Bancorp in the second quarter worth about $102,000. EMC Capital Management purchased a new position in shares of Brookline Bancorp in the first quarter worth about $140,000. Finally, Princeton Capital Management LLC purchased a new position in shares of Brookline Bancorp in the second quarter worth about $150,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.25.

Brookline Bancorp Stock Performance

Brookline Bancorp stock opened at $9.97 on Friday. The stock’s 50 day simple moving average is $9.69 and its two-hundred day simple moving average is $9.29. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $886.28 million, a price-to-earnings ratio of 10.72 and a beta of 0.78. Brookline Bancorp, Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. The firm had revenue of $161.75 million for the quarter, compared to analysts’ expectations of $89.40 million. During the same period in the previous year, the firm posted $0.26 EPS. As a group, analysts expect that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.42%. Brookline Bancorp’s dividend payout ratio is currently 58.06%.

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.