Inspire Advisors LLC Grows Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Key Points

• Inspire Advisors LLC increased its stake in Brookline Bancorp, acquiring a total of 227,859 shares, representing a growth of 22.7% in the first quarter.
• Brookline Bancorp recently declared a quarterly dividend of $0.135 per share, yielding 4.99% annually, with the payment date set for August 22nd.
• The bank reported earnings of $0.25 per share for the last quarter, meeting analysts' expectations, along with revenues slightly below estimates at $94.66 million.

Inspire Advisors LLC boosted its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 22.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,859 shares of the bank's stock after acquiring an additional 42,080 shares during the quarter. Inspire Advisors LLC owned 0.25% of Brookline Bancorp worth $2,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BRKL. Invesco Ltd. lifted its position in Brookline Bancorp by 118.8% in the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank's stock valued at $12,295,000 after acquiring an additional 565,719 shares in the last quarter. Pentwater Capital Management LP bought a new position in Brookline Bancorp in the 4th quarter valued at approximately $5,900,000. JPMorgan Chase & Co. lifted its position in Brookline Bancorp by 62.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock valued at $12,414,000 after acquiring an additional 404,897 shares in the last quarter. AQR Arbitrage LLC purchased a new stake in Brookline Bancorp during the 4th quarter valued at $4,747,000. Finally, Curi RMB Capital LLC purchased a new stake in Brookline Bancorp during the 4th quarter valued at $3,540,000. 78.91% of the stock is owned by institutional investors.

Brookline Bancorp Stock Performance

BRKL traded up $0.07 during mid-day trading on Wednesday, reaching $10.71. 98,730 shares of the company traded hands, compared to its average volume of 548,290. The stock has a market capitalization of $954.28 million, a P/E ratio of 12.03 and a beta of 0.88. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. The company's fifty day moving average price is $10.65 and its 200-day moving average price is $10.97. Brookline Bancorp, Inc. has a 52-week low of $9.24 and a 52-week high of $13.15.

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

Brookline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 5.04%. Brookline Bancorp's dividend payout ratio (DPR) is 60.67%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Brookline Bancorp in a research note on Monday, May 19th. They set 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.