AQR Arbitrage LLC Acquires New Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

AQR Arbitrage LLC bought a new stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 402,294 shares of the bank's stock, valued at approximately $4,747,000. AQR Arbitrage LLC owned 0.45% of Brookline Bancorp as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BRKL. Barclays PLC grew its stake in shares of Brookline Bancorp by 99.8% in the 3rd quarter. Barclays PLC now owns 212,904 shares of the bank's stock valued at $2,149,000 after buying an additional 106,345 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Brookline Bancorp by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank's stock valued at $6,529,000 after acquiring an additional 338,050 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Brookline Bancorp by 124.2% during the fourth quarter. Versant Capital Management Inc now owns 2,879 shares of the bank's stock worth $34,000 after purchasing an additional 1,595 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Brookline Bancorp by 36.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank's stock worth $10,369,000 after purchasing an additional 236,066 shares in the last quarter. Finally, KBC Group NV grew its position in Brookline Bancorp by 60.3% in the 4th quarter. KBC Group NV now owns 6,438 shares of the bank's stock valued at $76,000 after purchasing an additional 2,421 shares during the period. 78.91% of the stock is owned by institutional investors.

Brookline Bancorp Stock Down 1.3 %

Shares of NASDAQ:BRKL traded down $0.14 during mid-day trading on Tuesday, hitting $10.63. 180,524 shares of the company traded hands, compared to its average volume of 578,724. The stock has a 50-day moving average price of $10.56 and a two-hundred day moving average price of $11.51. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. The stock has a market cap of $955.83 million, a P/E ratio of 13.80 and a beta of 0.88. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. The firm had revenue of $91.49 million during the quarter, compared to analysts' expectations of $91.38 million. On average, equities research analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Friday, May 9th. Brookline Bancorp's dividend payout ratio (DPR) is currently 65.85%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Brookline Bancorp in a research note on Saturday. They issued a "hold" rating on the stock.

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.