Trexquant Investment LP Reduces Stock Position in Brookline Bancorp, Inc. $BRKL

Key Points

• Trexquant Investment LP reduced its stake in Brookline Bancorp, Inc. by 67.8%, now holding 58,058 shares worth approximately $633,000 after selling 122,424 shares in the first quarter.
• Brookline Bancorp announced a quarterly dividend of $0.135 per share, resulting in a 4.9% annualized dividend yield and a payout ratio of 60.67%.
• Wall Street analysts currently rate Brookline Bancorp as a "Buy" on average, with a price target of $15.25, reflecting positive sentiment despite varying institutional activities.

Trexquant Investment LP decreased its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 67.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,058 shares of the bank's stock after selling 122,424 shares during the period. Trexquant Investment LP owned about 0.06% of Brookline Bancorp worth $633,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in Brookline Bancorp in the 4th quarter worth $35,000. PNC Financial Services Group Inc. increased its position in Brookline Bancorp by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock worth $53,000 after purchasing an additional 1,199 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Brookline Bancorp during the fourth quarter valued at $121,000. Asset Management One Co. Ltd. purchased a new position in shares of Brookline Bancorp in the 1st quarter valued at approximately $156,000. Finally, GAMMA Investing LLC grew its stake in shares of Brookline Bancorp by 920.9% during the 1st quarter. GAMMA Investing LLC now owns 14,497 shares of the bank's stock worth $158,000 after purchasing an additional 13,077 shares during the period. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Price Performance

Shares of BRKL remained flat at $10.95 during trading hours on Thursday. The firm's 50-day moving average is $10.82 and its 200 day moving average is $10.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $975.75 million, a price-to-earnings ratio of 12.30 and a beta of 0.94. Brookline Bancorp, Inc. has a 12-month low of $9.28 and a 12-month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%.The firm had revenue of $94.66 million for the quarter, compared to analyst estimates of $94.90 million. As a group, equities analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 4.9%. Brookline Bancorp's dividend payout ratio is presently 60.67%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Brookline Bancorp to a "hold" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $15.25.

Insider Transactions at Brookline Bancorp

In other news, insider Janytra M. Brooks sold 3,763 shares of the stock in a transaction dated Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total transaction of $38,683.64. Following the completion of the sale, the insider directly owned 44,322 shares in the company, valued at approximately $455,630.16. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.55% of the stock is currently owned by insiders.

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.