Pentwater Capital Management LP Acquires New Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Pentwater Capital Management LP acquired a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 500,000 shares of the bank's stock, valued at approximately $5,900,000. Pentwater Capital Management LP owned 0.56% of Brookline Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Brookline Bancorp by 1.4% during the 4th quarter. AQR Capital Management LLC now owns 637,525 shares of the bank's stock worth $7,523,000 after buying an additional 8,814 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Brookline Bancorp in the fourth quarter worth approximately $129,000. Northern Trust Corp boosted its stake in Brookline Bancorp by 6.1% during the 4th quarter. Northern Trust Corp now owns 908,872 shares of the bank's stock valued at $10,725,000 after purchasing an additional 52,183 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Brookline Bancorp by 6.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 91,901 shares of the bank's stock valued at $1,085,000 after purchasing an additional 5,786 shares during the period. Finally, Mendon Capital Advisors Corp bought a new stake in shares of Brookline Bancorp in the 4th quarter worth $3,540,000. 78.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Brookline Bancorp in a report on Saturday. They set a "hold" rating on the stock.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL traded up $0.26 during mid-day trading on Friday, reaching $10.74. The company had a trading volume of 522,517 shares, compared to its average volume of 581,100. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $13.15. The stock has a market cap of $966.17 million, a PE ratio of 13.95 and a beta of 0.88. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $11.50.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. The company had revenue of $91.49 million for the quarter, compared to analyst estimates of $91.38 million. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, May 9th. Brookline Bancorp's payout ratio is 65.85%.

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.