Hotchkis & Wiley Capital Management LLC Has $11.59 Million Stake in 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 increased its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,063,404 shares of the bank's stock after purchasing an additional 23,440 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 1.18% of Brookline Bancorp worth $11,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in shares of 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 period. Pentwater Capital Management LP bought a new stake in shares of Brookline Bancorp during the 4th quarter worth $5,900,000. AQR Arbitrage LLC acquired a new position in Brookline Bancorp in the 4th quarter valued at $4,747,000. Kintayl Capital LP bought a new position in Brookline Bancorp in the 1st quarter worth $2,643,000. Finally, Nuveen LLC bought a new position in Brookline Bancorp in the 1st quarter worth $2,559,000. Institutional investors and hedge funds own 78.91% of the company's stock.

Brookline Bancorp Price Performance

NASDAQ:BRKL opened at $11.16 on Friday. 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, Inc. has a one year low of $9.28 and a one year high of $13.15. The company has a fifty day moving average price of $10.67 and a 200 day moving average price of $10.77. The stock has a market cap of $994.47 million, a P/E ratio of 12.54 and a beta of 0.91.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $94.90 million. Analysts anticipate that Brookline Bancorp, Inc. will post 1.35 earnings per share 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 paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, August 8th. Brookline Bancorp's payout ratio is currently 60.67%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Brookline Bancorp to a "hold" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $15.25.

Insider Buying and Selling

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the company's stock in a transaction that occurred on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total value of $38,683.64. Following the completion of the transaction, the insider owned 44,322 shares of the company's stock, valued at $455,630.16. This represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.89% of the stock is currently owned by company insiders.

About Brookline Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.