Alta Wealth Advisors LLC Takes $117,000 Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Alta Wealth Advisors LLC bought a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) during the 3rd quarter, HoldingsChannel reports. The fund bought 11,570 shares of the bank’s stock, valued at approximately $117,000.

Several other institutional investors have also recently added to or reduced their stakes in BRKL. Vanguard Group Inc. increased its holdings in shares of Brookline Bancorp by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,091,274 shares of the bank’s stock worth $110,096,000 after buying an additional 32,790 shares in the last quarter. Hennessy Advisors Inc. raised its position in Brookline Bancorp by 14.5% in the 1st quarter. Hennessy Advisors Inc. now owns 315,000 shares of the bank’s stock valued at $3,137,000 after purchasing an additional 40,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Brookline Bancorp by 12.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 50,002 shares of the bank’s stock valued at $498,000 after purchasing an additional 5,598 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Brookline Bancorp by 58.7% during the first quarter. BNP Paribas Financial Markets now owns 61,475 shares of the bank’s stock worth $612,000 after purchasing an additional 22,749 shares during the last quarter. Finally, Wakefield Asset Management LLLP bought a new stake in shares of Brookline Bancorp during the first quarter worth $899,000. 78.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price target on shares of 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 Stock Down 0.8 %

NASDAQ:BRKL opened at $10.76 on Friday. The company has a market cap of $956.51 million, a price-to-earnings ratio of 11.57 and a beta of 0.78. Brookline Bancorp, Inc. has a 52-week low of $7.93 and a 52-week high of $11.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average price is $10.02 and its two-hundred day moving average price is $9.37.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The company had revenue of $161.75 million for the quarter, compared to analyst estimates of $89.40 million. During the same quarter last year, the firm earned $0.26 EPS. On average, analysts anticipate that Brookline Bancorp, Inc. will post 0.77 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 58.06%.

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.