Brookline Bancorp, Inc. $BRKL Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Brookline Bancorp, Inc. by 76.4% during the first quarter, owning approximately 0.11% of the company valued at over $1 million.
• Brookline Bancorp recently upgraded to a "hold" rating by Wall Street Zen, with a consensus rating of "Buy" and an average target price of $15.25.
• The company declared a quarterly dividend of $0.135 per share, resulting in a 5.0% yield, with a dividend payout ratio of 60.67%.

Ieq Capital LLC lifted its position in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 76.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,941 shares of the bank's stock after purchasing an additional 41,539 shares during the quarter. Ieq Capital LLC owned approximately 0.11% of Brookline Bancorp worth $1,046,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BRKL. Pinney & Scofield Inc. acquired a new stake in Brookline Bancorp during the 4th quarter worth approximately $35,000. PNC Financial Services Group Inc. lifted its position in Brookline Bancorp by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock worth $53,000 after acquiring an additional 1,199 shares during the period. Focus Partners Wealth acquired a new stake in Brookline Bancorp during the 4th quarter worth approximately $121,000. Asset Management One Co. Ltd. acquired a new stake in Brookline Bancorp during the 1st quarter worth approximately $156,000. Finally, GAMMA Investing LLC lifted its position in Brookline Bancorp by 920.9% during the 1st quarter. GAMMA Investing LLC now owns 14,497 shares of the bank's stock worth $158,000 after acquiring an additional 13,077 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the firm's stock in a transaction on Saturday, August 2nd. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.55% of the company's stock.

Brookline Bancorp Price Performance

NASDAQ BRKL remained flat at $10.95 during mid-day trading on Monday. 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 $975.75 million, a PE ratio of 12.30 and a beta of 0.94. The stock has a 50 day moving average price of $10.82 and a 200-day moving average price of $10.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current 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 for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $94.66 million during the quarter, compared to the consensus estimate of $94.90 million. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. On average, equities research analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 yield of 4.9%. Brookline Bancorp's dividend payout ratio (DPR) is presently 60.67%.

Analyst Ratings Changes

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

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.