Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 41.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,908,477 shares of the bank’s stock after selling 2,063,240 shares during the period. Jennison Associates LLC’s holdings in Brookline Bancorp were worth $29,347,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in shares of Brookline Bancorp in the 1st quarter valued at about $47,000. CWM LLC raised its holdings in Brookline Bancorp by 1,806.5% in the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after acquiring an additional 8,364 shares in the last quarter. Creative Planning acquired a new stake in Brookline Bancorp in the third quarter valued at approximately $103,000. Alta Wealth Advisors LLC purchased a new position in Brookline Bancorp in the third quarter worth approximately $117,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Brookline Bancorp during the 3rd quarter worth approximately $118,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Up 1.9 %

BRKL opened at $12.26 on Friday. The business’s 50-day simple moving average is $10.87 and its 200-day simple moving average is $9.80. The company has a market cap of $1.09 billion, a P/E ratio of 14.77 and a beta of 0.76. 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 quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data 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. 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 analysts’ expectations of $88.67 million. During the same quarter last year, the company earned $0.26 earnings per share. As a group, equities research analysts expect that Brookline Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 annualized dividend and a yield of 4.40%. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th.

About Brookline Bancorp

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.