20,327 Shares in Brookline Bancorp, Inc. (NASDAQ:BRKL) Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,327 shares of the bank’s stock, valued at approximately $222,000.

Several other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock valued at $6,484,000 after buying an additional 258,267 shares during the last quarter. American Century Companies Inc. boosted its stake in Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Brookline Bancorp by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after purchasing an additional 158,329 shares in the last quarter. Inspire Advisors LLC purchased a new position in shares of Brookline Bancorp in the second quarter worth $1,298,000. Finally, Bank of Montreal Can bought a new position in shares of Brookline Bancorp during the second quarter valued at $1,042,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price on Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th.

Brookline Bancorp Price Performance

Shares of BRKL opened at $11.11 on Tuesday. The firm has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $9.49. The firm has a market cap of $987.79 million, a PE ratio of 13.39 and a beta of 0.76. The company has a current ratio of 1.13, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $11.63.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same period in the previous year, the business posted $0.26 earnings per share. On average, equities analysts anticipate that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio is 65.06%.

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.