Hotchkis & Wiley Capital Management LLC Buys 23,440 Shares of Brookline Bancorp, Inc. $BRKL

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Brookline Bancorp to approximately $11.59 million, owning about 1.18% of the company after acquiring 23,440 shares in the first quarter.
• Brookline Bancorp declared a quarterly dividend of $0.135 per share, resulting in an annualized dividend of $0.54 and a yield of 4.8%.
• Wall Street analysts have given Brookline Bancorp an average rating of "Buy" with a price target of $15.25, while the stock currently trades around $11.16.

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,063,404 shares of the bank's stock after acquiring an additional 23,440 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.18% of Brookline Bancorp worth $11,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BRKL. Citigroup Inc. lifted its position in Brookline Bancorp by 157.0% in the first quarter. Citigroup Inc. now owns 1,968,304 shares of the bank's stock valued at $21,455,000 after purchasing an additional 1,202,542 shares during the last quarter. Pentwater Capital Management LP bought a new stake in Brookline Bancorp in the fourth quarter valued at approximately $5,900,000. AQR Arbitrage LLC bought a new stake in Brookline Bancorp in the fourth quarter valued at approximately $4,747,000. Kintayl Capital LP bought a new stake in Brookline Bancorp in the first quarter valued at approximately $2,643,000. Finally, Nuveen LLC bought a new stake in Brookline Bancorp in the first quarter valued at approximately $2,559,000. 78.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Brookline Bancorp to a "hold" rating in a research report 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 stock. According to MarketBeat.com, Brookline Bancorp has an average rating of "Buy" and an average target price of $15.25.

Brookline Bancorp Stock Up 0.9%

Shares of BRKL traded up $0.10 during mid-day trading on Friday, reaching $11.12. The company had a trading volume of 250,566 shares, compared to its average volume of 557,690. 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 firm has a 50-day moving average price of $10.75 and a 200 day moving average price of $10.74. Brookline Bancorp, Inc. has a 52 week low of $9.28 and a 52 week high of $13.15. The company has a market capitalization of $990.46 million, a price-to-earnings ratio of 12.49 and a beta of 0.91.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, hitting analysts' consensus estimates 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 analysts' expectations 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 company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.135 per share. 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 (DPR) is 60.67%.

Insider Buying and Selling at Brookline Bancorp

In related 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 sale, the insider owned 44,322 shares of the company's stock, valued at $455,630.16. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.89% of the stock is owned by company 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.