Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Sold by Avalon Trust Co

Avalon Trust Co reduced its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 62.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the bank’s stock after selling 33,550 shares during the period. Avalon Trust Co’s holdings in Brookline Bancorp were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of Brookline Bancorp by 2,268.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after acquiring an additional 2,200 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Brookline Bancorp during the 4th quarter worth about $34,000. Advisor Partners II LLC purchased a new stake in shares of Brookline Bancorp during the third quarter worth about $104,000. Fox Run Management L.L.C. purchased a new stake in shares of Brookline Bancorp during the third quarter worth about $106,000. Finally, Ieq Capital LLC acquired a new position in shares of Brookline Bancorp in the third quarter valued at approximately $110,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Up 1.3 %

NASDAQ BRKL traded up $0.11 during mid-day trading on Friday, hitting $8.85. The company’s stock had a trading volume of 313,360 shares, compared to its average volume of 426,766. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp, Inc. has a 52-week low of $7.00 and a 52-week high of $11.52. The stock’s fifty day simple moving average is $9.38 and its two-hundred day simple moving average is $9.76. The firm has a market capitalization of $793.37 million, a P/E ratio of 9.52 and a beta of 0.79.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.135 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.54 annualized dividend and a yield of 6.10%. Brookline Bancorp’s dividend payout ratio is currently 58.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BRKL shares. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered their target price on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.08.

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.