Townsquare Capital LLC Purchases New Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Townsquare Capital LLC acquired a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,021 shares of the bank’s stock, valued at approximately $111,000.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after acquiring an additional 3,279 shares in the last quarter. CWM LLC lifted its stake in Brookline Bancorp by 1,806.5% during the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after purchasing an additional 8,364 shares during the last quarter. Creative Planning acquired a new stake in shares of Brookline Bancorp in the 3rd quarter valued at $103,000. Alta Wealth Advisors LLC bought a new position in shares of Brookline Bancorp in the 3rd quarter valued at $117,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth $118,000. 78.91% of the stock is owned by institutional investors.

Brookline Bancorp Trading Up 0.1 %

Shares of Brookline Bancorp stock opened at $12.62 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of 15.20 and a beta of 0.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $11.42 and its 200 day moving average is $10.10. Brookline Bancorp, Inc. has a 1 year low of $8.01 and a 1 year high of $13.15.

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

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s payout ratio is 65.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $14.50 in a research note on Wednesday.

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.