Versant Capital Management Inc trimmed its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 32.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,776 shares of the bank’s stock after selling 842 shares during the quarter. Versant Capital Management Inc’s holdings in Brookline Bancorp were worth $27,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Bank of America Corp DE grew its position in Brookline Bancorp by 13.1% in the 4th quarter. Bank of America Corp DE now owns 615,788 shares of the bank’s stock valued at $8,510,000 after purchasing an additional 71,518 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Brookline Bancorp by 466.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 123,104 shares of the bank’s stock valued at $1,701,000 after buying an additional 101,386 shares during the last quarter. Comerica Bank grew its holdings in shares of Brookline Bancorp by 5.9% during the first quarter. Comerica Bank now owns 103,693 shares of the bank’s stock valued at $1,552,000 after buying an additional 5,813 shares during the last quarter. Norges Bank acquired a new position in shares of Brookline Bancorp during the fourth quarter valued at about $12,782,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Brookline Bancorp by 1,695.5% during the first quarter. Acadian Asset Management LLC now owns 75,017 shares of the bank’s stock valued at $1,080,000 after buying an additional 70,839 shares during the last quarter. Institutional investors and hedge funds own 76.72% of the company’s stock.
Brookline Bancorp stock traded down $0.07 during midday trading on Friday, hitting $14.25. 270,481 shares of the stock were exchanged, compared to its average volume of 225,730. Brookline Bancorp, Inc. has a 52-week low of $12.84 and a 52-week high of $18.50. The company has a market capitalization of $1.18 billion, a PE ratio of 13.73 and a beta of 0.89. The stock’s 50-day simple moving average is $14.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.09%. Brookline Bancorp’s payout ratio is presently 41.12%.
In other Brookline Bancorp news, General Counsel Michael W. Mccurdy sold 2,574 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $14.89, for a total value of $38,326.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark J. Meiklejohn sold 23,335 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $15.04, for a total value of $350,958.40. The disclosure for this sale can be found here. 2.54% of the stock is owned by insiders.
BRKL has been the subject of a number of analyst reports. Piper Jaffray Companies upgraded shares of Brookline Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $15.50 to $17.00 in a report on Thursday, May 2nd. Keefe, Bruyette & Woods set a $16.00 price target on Brookline Bancorp and gave the company a “hold” rating in a research note on Friday, July 26th. ValuEngine downgraded Brookline Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Zacks Investment Research cut Brookline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, BidaskClub cut Brookline Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Brookline Bancorp has a consensus rating of “Hold” and an average target price of $16.75.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts, as well as commercial, municipal, and retail deposits.
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