Alpine Woods Capital Investors LLC grew its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the bank’s stock after acquiring an additional 2,000 shares during the quarter. Alpine Woods Capital Investors, LLC’s holdings in Brookline Bancorp, Inc. were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its holdings in shares of Brookline Bancorp, Inc. by 169.3% in the 1st quarter. Stifel Financial Corp now owns 33,883 shares of the bank’s stock valued at $531,000 after acquiring an additional 21,303 shares during the last quarter. Algebris Investments UK, LLP bought a new position in Brookline Bancorp during the 1st quarter worth $563,000. Geode Capital Management, LLC grew its stake in Brookline Bancorp, Inc. by 8.4% during the 1st quarter. Geode Capital Management, LLC now owns 660,917 shares of the bank’s stock worth $10,343,000 after buying an additional 51,313 shares during the last quarter. Moody Aldrich Partners, LLC boosted its position in Brookline Bancorp by 38.0% during the 2nd quarter. Moody Aldrich Partners, LLC now owns 96,155 shares of the bank’s stock worth $1,404,000 after acquiring an additional 26,460 shares during the period. Finally, Karp Capital Management Corp acquired a new position in Brookline Bancorp, Inc. during the 1st quarter worth $335,000. Institutional investors and hedge funds own 78.12% of the company’s stock.
BRKL has been the subject of a number of analyst reports. BidaskClub lowered Brookline Bancorp, Inc. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies restated a “hold” rating and issued a $15.00 price objective on shares of Brookline Bancorp, Inc. in a report on Friday, July 14th. Finally, Sandler O’Neill upgraded Brookline Bancorp, Inc. from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, August 21st. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.83.
Shares of Brookline Bancorp, Inc. (BRKL) traded down 2.45% during midday trading on Tuesday, hitting $13.95. The stock had a trading volume of 287,752 shares. The firm’s 50-day moving average price is $14.41 and its 200-day moving average price is $14.72. The firm has a market capitalization of $1.07 billion, a PE ratio of 18.12 and a beta of 0.98. Brookline Bancorp, Inc. has a one year low of $11.51 and a one year high of $17.45.
Brookline Bancorp, Inc. (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $58.08 million. Brookline Bancorp, Inc. had a net margin of 19.64% and a return on equity of 7.56%. The business’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities analysts predict that Brookline Bancorp, Inc. will post $0.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were given a $0.09 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.36 annualized dividend and a yield of 2.58%. Brookline Bancorp’s payout ratio is 46.75%.
About Brookline Bancorp, Inc.
Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island and its subsidiaries; First Ipswich Bank and its subsidiaries, and Brookline Securities Corp. As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England. The Company’s activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in Massachusetts and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services.