Quest Partners LLC Purchases 16,056 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Quest Partners LLC increased its position in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 91,682 shares of the bank’s stock after buying an additional 16,056 shares during the period. Quest Partners LLC owned about 0.10% of Brookline Bancorp worth $925,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in Brookline Bancorp in the 1st quarter worth $47,000. CWM LLC boosted its holdings in shares of Brookline Bancorp by 1,806.5% during the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after purchasing an additional 8,364 shares during the last quarter. Creative Planning bought a new position in shares of Brookline Bancorp during the 3rd quarter valued at about $103,000. Alta Wealth Advisors LLC bought a new position in shares of Brookline Bancorp during the 3rd quarter valued at about $117,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Brookline Bancorp during the 3rd quarter valued at about $118,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Stock Down 0.5 %

BRKL opened at $12.03 on Thursday. The firm has a 50-day simple moving average of $10.82 and a two-hundred day simple moving average of $9.78. Brookline Bancorp, Inc. has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a market capitalization of $1.07 billion, a PE ratio of 14.49 and a beta of 0.76. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22.

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 firm had revenue of $165.91 million for the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.26 EPS. Analysts forecast that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s dividend payout ratio is 65.06%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th.

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.