Quest Partners LLC Raises Stock Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Quest Partners LLC raised its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 123.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,626 shares of the bank’s stock after purchasing an additional 41,826 shares during the quarter. Quest Partners LLC’s holdings in Brookline Bancorp were worth $631,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Brookline Bancorp during the first quarter valued at about $47,000. CWM LLC increased its holdings in 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 period. SG Americas Securities LLC bought a new position in Brookline Bancorp during the 2nd quarter valued at approximately $102,000. EMC Capital Management purchased a new stake in Brookline Bancorp in the 1st quarter worth approximately $140,000. Finally, Princeton Capital Management LLC bought a new stake in shares of Brookline Bancorp in the 2nd quarter worth approximately $150,000. Institutional investors own 78.91% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.25.

Brookline Bancorp Stock Performance

Brookline Bancorp stock opened at $9.75 on Thursday. Brookline Bancorp, Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $11.52. The stock has a market cap of $866.87 million, a price-to-earnings ratio of 10.48 and a beta of 0.78. The stock’s 50 day simple moving average is $9.80 and its two-hundred day simple moving average is $9.28. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $161.75 million for the quarter, compared to analysts’ expectations of $89.40 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, analysts expect that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.135 per share. The ex-dividend date was Friday, August 16th. This represents a $0.54 dividend on an annualized basis and a yield of 5.54%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.07%.

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.