ABC Arbitrage SA Takes $707,000 Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

ABC Arbitrage SA bought a new stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 59,911 shares of the bank’s stock, valued at approximately $707,000.

Several other institutional investors have also modified their holdings of the stock. State Street Corp grew its position in shares of Brookline Bancorp by 0.5% in the third quarter. State Street Corp now owns 4,129,487 shares of the bank’s stock valued at $41,667,000 after purchasing an additional 21,345 shares during the period. Jennison Associates LLC lifted its stake in shares of Brookline Bancorp by 7.7% in the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after buying an additional 224,888 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Brookline Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock worth $21,084,000 after buying an additional 26,714 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Brookline Bancorp by 36.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank’s stock worth $10,369,000 after buying an additional 236,066 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after buying an additional 338,050 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Brookline Bancorp in a research note on Wednesday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research note on Tuesday, December 24th. Finally, Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Friday, December 20th.

Brookline Bancorp Price Performance

Shares of BRKL stock opened at $12.18 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.12 and a quick ratio of 1.13. The firm’s 50-day moving average is $12.05 and its two-hundred day moving average is $11.20. Brookline Bancorp, Inc. has a 12 month low of $8.01 and a 12 month high of $13.15. The company has a market capitalization of $1.09 billion, a PE ratio of 15.82 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. Analysts predict that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, February 14th. Brookline Bancorp’s dividend payout ratio (DPR) is 70.13%.

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.