Deutsche Bank AG Boosts Stock Position in Brookline Bancorp, Inc. $BRKL

Key Points

• Deutsche Bank AG increased its stake in Brookline Bancorp, Inc. by 54.2% in the first quarter, now holding 115,508 shares valued at approximately $1.26 million.
• Brookline Bancorp has recently announced a quarterly dividend of $0.135 per share, representing an annualized yield of 4.8% with a dividend payout ratio of 60.67%.
• Analysts maintain a Buy rating on Brookline Bancorp with a price target of $15.25, despite a recent "hold" rating update from Wall Street Zen.

Deutsche Bank AG lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 54.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,508 shares of the bank's stock after purchasing an additional 40,605 shares during the period. Deutsche Bank AG owned 0.13% of Brookline Bancorp worth $1,259,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BRKL. Pentwater Capital Management LP purchased a new stake in shares of Brookline Bancorp during the fourth quarter worth about $5,900,000. AQR Arbitrage LLC purchased a new stake in shares of Brookline Bancorp during the fourth quarter worth about $4,747,000. Kintayl Capital LP purchased a new stake in shares of Brookline Bancorp during the first quarter worth about $2,643,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Brookline Bancorp during the fourth quarter worth about $1,855,000. Finally, Jefferies Financial Group Inc. bought a new position in Brookline Bancorp in the first quarter worth about $1,535,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brookline Bancorp

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 44,322 shares of the company's stock, valued at approximately $455,630.16. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.89% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Brookline Bancorp to a "hold" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $15.25.

Brookline Bancorp Price Performance

BRKL stock opened at $11.16 on Friday. Brookline Bancorp, Inc. has a 1 year low of $9.28 and a 1 year high of $13.15. The company has a market cap of $994.47 million, a P/E ratio of 12.54 and a beta of 0.91. The firm has a 50-day moving average of $10.67 and a 200 day moving average of $10.77. 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 quarterly earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.25. Brookline Bancorp had a net margin of 12.12% and a return on equity of 6.69%. The company had revenue of $94.66 million during the quarter, compared to the consensus estimate of $94.90 million. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.8%. Brookline Bancorp's dividend payout ratio (DPR) is currently 60.67%.

Brookline Bancorp Company 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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