Cubist Systematic Strategies LLC Cuts Stock Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Cubist Systematic Strategies LLC cut its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 84.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,274 shares of the bank's stock after selling 346,711 shares during the quarter. Cubist Systematic Strategies LLC owned 0.07% of Brookline Bancorp worth $735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC grew its holdings in shares of Brookline Bancorp by 805.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank's stock valued at $33,000 after purchasing an additional 2,513 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Brookline Bancorp during the fourth quarter worth $72,000. KBC Group NV boosted its stake in Brookline Bancorp by 60.3% during the fourth quarter. KBC Group NV now owns 6,438 shares of the bank's stock worth $76,000 after buying an additional 2,421 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in Brookline Bancorp during the fourth quarter worth $129,000. Finally, Semanteon Capital Management LP purchased a new position in Brookline Bancorp during the fourth quarter worth $133,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Brookline Bancorp in a research note on Sunday. They set a "hold" rating for the company.

Brookline Bancorp Stock Down 1.3%

Shares of BRKL opened at $10.95 on Thursday. The firm has a market capitalization of $985.06 million, a P/E ratio of 14.22 and a beta of 0.88. Brookline Bancorp, Inc. has a 12-month low of $8.01 and a 12-month high of $13.15. 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 firm has a fifty day moving average price of $10.48 and a 200-day moving average price of $11.50.

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

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Friday, May 9th. Brookline Bancorp's dividend payout ratio is currently 65.85%.

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.

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