Brookline Bancorp, Inc. $BRKL Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly reduced its stake in Brookline Bancorp by 92.5%, selling 33,198 shares and now holding only 2,700 shares valued at $29,000.
• Several institutional investors increased their holdings in Brookline Bancorp, with Citigroup Inc. growing its stake by 157.0%, acquiring over 1.2 million shares during the first quarter.
• Brookline Bancorp recently announced a quarterly dividend of $0.135 per share, providing an annualized yield of 4.9%.

Quantbot Technologies LP cut its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 92.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,700 shares of the bank's stock after selling 33,198 shares during the period. Quantbot Technologies LP's holdings in Brookline Bancorp were worth $29,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in Brookline Bancorp in the fourth quarter valued at $35,000. PNC Financial Services Group Inc. increased its stake in Brookline Bancorp by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,905 shares of the bank's stock valued at $53,000 after purchasing an additional 1,199 shares during the period. Focus Partners Wealth acquired a new position in Brookline Bancorp in the fourth quarter valued at $121,000. Asset Management One Co. Ltd. acquired a new position in Brookline Bancorp in the first quarter valued at $156,000. Finally, GAMMA Investing LLC increased its stake in Brookline Bancorp by 920.9% in the first quarter. GAMMA Investing LLC now owns 14,497 shares of the bank's stock valued at $158,000 after purchasing an additional 13,077 shares during the period. 78.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Brookline Bancorp

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of the stock in a transaction dated Saturday, August 2nd. The shares were sold at an average price of $10.28, for a total value of $38,683.64. Following the completion of the transaction, the insider directly 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 2.55% of the company's stock.

Brookline Bancorp Price Performance

NASDAQ BRKL remained flat at $10.95 during trading hours on Thursday. The company has a market capitalization of $975.75 million, a P/E ratio of 12.30 and a beta of 0.94. Brookline Bancorp, Inc. has a 1 year low of $9.28 and a 1 year high of $13.15. The company has a 50 day moving average price of $10.80 and a 200-day moving average price of $10.70. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.92.

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 firm had revenue of $94.66 million during the quarter, compared to analysts' expectations of $94.90 million. Sell-side analysts predict that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a yield of 4.9%. Brookline Bancorp's dividend payout ratio (DPR) is 60.67%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Brookline Bancorp to a "hold" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.25.

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.