Algert Global LLC Buys New Shares in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Algert Global LLC purchased a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,926 shares of the bank’s stock, valued at approximately $931,000. Algert Global LLC owned approximately 0.09% of Brookline Bancorp as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its stake in Brookline Bancorp by 118.8% during the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank’s stock worth $12,295,000 after acquiring an additional 565,719 shares during the period. Pentwater Capital Management LP bought a new stake in Brookline Bancorp during the fourth quarter valued at about $5,900,000. JPMorgan Chase & Co. boosted its stake in shares of Brookline Bancorp by 62.6% in the fourth 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 period. AQR Arbitrage LLC purchased a new stake in shares of Brookline Bancorp during the fourth quarter worth about $4,747,000. Finally, Curi RMB Capital LLC bought a new stake in Brookline Bancorp during the 4th quarter valued at approximately $3,540,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock opened at $10.55 on Friday. The stock has a market cap of $949.08 million, a price-to-earnings ratio of 13.70 and a beta of 0.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a 50 day moving average price of $10.48 and a 200-day moving average price of $11.50. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. The firm had revenue of $91.49 million for the quarter, compared to the consensus estimate of $91.38 million. Equities analysts expect that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 5.12%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.85%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Brookline Bancorp in a research report on Sunday. They set a “hold” rating for the company.

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.