AQR Arbitrage LLC Purchases New Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

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

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

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock traded up $0.26 during midday trading on Friday, reaching $10.74. The company had a trading volume of 522,517 shares, compared to its average volume of 581,100. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $10.58 and a 200 day simple moving average of $11.50. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $13.15. The company has a market capitalization of $966.17 million, a price-to-earnings ratio of 13.95 and a beta of 0.88.

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

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.135 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a yield of 5.03%. Brookline Bancorp's payout ratio is presently 65.85%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Brookline Bancorp in a research note on Saturday. They issued a "hold" rating for the company.

Brookline Bancorp 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.