Pentwater Capital Management LP Boosts Stock Position in Brookline Bancorp, Inc. $BRKL

Key Points

• Pentwater Capital Management LP increased its stake in Brookline Bancorp by 24.1%, owning approximately 620,352 shares valued at $6.76 million as of the latest SEC filing.
• Brookline Bancorp's recent earnings report showed an EPS of $0.25, meeting analysts' expectations, with a revenue of $94.66 million for the quarter.
• The company declared a quarterly dividend of $0.135 per share, representing an annualized yield of 4.9% and a payout ratio of 60.67%.

Pentwater Capital Management LP raised its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 620,352 shares of the bank's stock after purchasing an additional 120,352 shares during the quarter. Pentwater Capital Management LP owned 0.69% of Brookline Bancorp worth $6,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in Brookline Bancorp by 32.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock valued at $53,000 after buying an additional 1,199 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Brookline Bancorp by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank's stock valued at $536,000 after buying an additional 1,573 shares during the last quarter. ABC Arbitrage SA raised its position in Brookline Bancorp by 2.9% in the 1st quarter. ABC Arbitrage SA now owns 61,656 shares of the bank's stock valued at $672,000 after buying an additional 1,745 shares during the last quarter. WASHINGTON TRUST Co raised its position in Brookline Bancorp by 5.9% in the 1st quarter. WASHINGTON TRUST Co now owns 33,396 shares of the bank's stock valued at $364,000 after buying an additional 1,857 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Brookline Bancorp by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,139 shares of the bank's stock valued at $592,000 after buying an additional 1,859 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Performance

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

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.25. The firm 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%. Equities analysts forecast 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. Stockholders of record on Friday, August 8th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 4.9%. Brookline Bancorp's dividend payout ratio is presently 60.67%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Brookline Bancorp

In other news, insider Janytra M. Brooks sold 3,763 shares of the 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 in the company, valued at approximately $455,630.16. This represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.55% of the company's stock.

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.