Pentwater Capital Management LP Invests $5.90 Million in Brookline Bancorp, Inc. (NASDAQ:BRKL)

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

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Brookline Bancorp by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank's stock worth $112,937,000 after buying an additional 45,448 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Brookline Bancorp by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,255,331 shares of the bank's stock valued at $62,013,000 after purchasing an additional 100,610 shares in the last quarter. Jennison Associates LLC lifted its stake in Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank's stock worth $36,974,000 after purchasing an additional 224,888 shares in the last quarter. American Century Companies Inc. boosted its holdings in Brookline Bancorp by 17.0% in the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock valued at $22,465,000 after purchasing an additional 276,025 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Brookline Bancorp by 62.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock worth $12,414,000 after acquiring an additional 404,897 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Brookline Bancorp in a research report on Friday. They issued a "hold" rating on the stock.

Brookline Bancorp Stock Up 1.3 %

Shares of Brookline Bancorp stock opened at $10.39 on Tuesday. The company has a market cap of $934.68 million, a price-to-earnings ratio of 13.49 and a beta of 0.71. The company's 50 day moving average is $10.68 and its 200 day moving average is $11.51. Brookline Bancorp, Inc. has a twelve month low of $8.01 and a twelve month high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $91.49 million for the quarter, compared to analysts' expectations of $91.38 million. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Research analysts anticipate that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, May 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.20%. Brookline Bancorp's dividend 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.

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