Curi RMB Capital LLC Buys 200,000 Shares of Brookline Bancorp, Inc. $BRKL

Key Points

• Curi RMB Capital LLC increased its holdings in Brookline Bancorp by 66.7%, now owning 500,000 shares valued at approximately $5.45 million.
• Brookline Bancorp announced a quarterly dividend of $0.135, with a dividend yield of 4.9% and a payout ratio of 60.67%.
• The company reported earnings of $0.25 EPS for the last quarter, matching consensus estimates, with revenues slightly below expectations at $94.66 million.

Curi RMB Capital LLC increased its holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 66.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 500,000 shares of the bank's stock after purchasing an additional 200,000 shares during the period. Curi RMB Capital LLC owned 0.56% of Brookline Bancorp worth $5,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BRKL. Pinney & Scofield Inc. acquired a new position in Brookline Bancorp in the fourth quarter valued at $35,000. PNC Financial Services Group Inc. boosted its holdings 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 valued at $53,000 after acquiring an additional 1,199 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Brookline Bancorp in the first quarter valued at $117,000. Focus Partners Wealth acquired a new position in Brookline Bancorp in the fourth quarter valued at $121,000. Finally, Asset Management One Co. Ltd. acquired a new position in Brookline Bancorp in the first quarter valued at $156,000. Hedge funds and other institutional investors own 78.91% of the company's stock.

Brookline Bancorp Stock Performance

Shares of BRKL remained flat at $10.95 during mid-day trading on Wednesday. The stock's 50-day moving average price is $10.82 and its two-hundred day moving average price is $10.67. The company has a market capitalization of $975.75 million, a PE ratio of 12.30 and a beta of 0.94. Brookline Bancorp, Inc. has a 1-year low of $9.28 and a 1-year high of $13.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.10 and a quick ratio of 1.10.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.25. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%.The company had revenue of $94.66 million during the quarter, compared to analyst estimates of $94.90 million. Sell-side analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Brookline Bancorp to a "hold" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Brookline Bancorp currently has a consensus rating of "Buy" and an average price target of $15.25.

Insider Buying and Selling at Brookline Bancorp

In related 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 value of $38,683.64. Following the completion of the sale, the insider owned 44,322 shares in the company, valued at approximately $455,630.16. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.55% of the company's stock.

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.