Hennion & Walsh Asset Management Inc. Purchases 5,598 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Hennion & Walsh Asset Management Inc. increased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 12.6% during the first quarter, Holdings Channel reports. The firm owned 50,002 shares of the bank’s stock after buying an additional 5,598 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Brookline Bancorp were worth $498,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Trexquant Investment LP acquired a new stake in shares of Brookline Bancorp in the third quarter valued at approximately $341,000. Crestwood Advisors Group LLC bought a new position in Brookline Bancorp during the third quarter worth $140,000. American Century Companies Inc. boosted its position in Brookline Bancorp by 13.2% during the third quarter. American Century Companies Inc. now owns 789,531 shares of the bank’s stock worth $7,193,000 after purchasing an additional 92,291 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Brookline Bancorp by 71.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 427,950 shares of the bank’s stock valued at $4,669,000 after purchasing an additional 178,733 shares during the period. Finally, Hennessy Advisors Inc. lifted its stake in shares of Brookline Bancorp by 19.6% during the 4th quarter. Hennessy Advisors Inc. now owns 275,000 shares of the bank’s stock worth $3,000,000 after buying an additional 45,000 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on BRKL. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods lowered their target price on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brookline Bancorp has an average rating of “Moderate Buy” and an average price target of $11.08.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $8.66 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $769.79 million, a price-to-earnings ratio of 9.31 and a beta of 0.79. Brookline Bancorp, Inc. has a twelve month low of $7.93 and a twelve month high of $11.52. The company has a 50-day simple moving average of $8.57 and a two-hundred day simple moving average of $9.54.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $87.87 million during the quarter, compared to the consensus estimate of $91.77 million. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.09%. Analysts forecast that Brookline Bancorp, Inc. will post 0.72 EPS for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend was Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.07%.

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.