AlphaQuest LLC Cuts Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

AlphaQuest LLC cut its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,355 shares of the bank’s stock after selling 8,327 shares during the quarter. AlphaQuest LLC owned about 0.09% of Brookline Bancorp worth $984,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Brookline Bancorp during the fourth quarter worth about $744,000. Keybank National Association OH increased its position in shares of Brookline Bancorp by 46.9% during the fourth quarter. Keybank National Association OH now owns 24,628 shares of the bank’s stock worth $291,000 after acquiring an additional 7,864 shares during the last quarter. Ieq Capital LLC increased its position in shares of Brookline Bancorp by 327.8% during the fourth quarter. Ieq Capital LLC now owns 54,402 shares of the bank’s stock worth $642,000 after acquiring an additional 41,685 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Brookline Bancorp by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 432,069 shares of the bank’s stock worth $5,098,000 after acquiring an additional 12,999 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Brookline Bancorp by 9.2% during the fourth quarter. Congress Asset Management Co. now owns 269,338 shares of the bank’s stock worth $3,178,000 after acquiring an additional 22,594 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Down 2.5 %

Shares of Brookline Bancorp stock opened at $10.75 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $11.88 and a 200 day moving average price of $11.42. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The firm has a market cap of $957.88 million, a P/E ratio of 13.96 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 5.02%. Brookline Bancorp’s payout ratio is currently 70.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BRKL. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research report on Tuesday, December 24th. StockNews.com began coverage on Brookline Bancorp in a report on Saturday. They issued a “hold” rating for the company. Finally, Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Friday, December 20th.

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.