Brookline Bancorp, Inc. (NASDAQ:BRKL) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC raised its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL) by 47.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 491,756 shares of the bank’s stock after purchasing an additional 158,329 shares during the period. AQR Capital Management LLC owned 0.55% of Brookline Bancorp worth $4,106,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC bought a new stake in Brookline Bancorp in the first quarter valued at about $47,000. CWM LLC increased its holdings in shares of Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after acquiring an additional 8,364 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Brookline Bancorp during the 2nd quarter valued at approximately $102,000. XTX Topco Ltd bought a new position in Brookline Bancorp during the second quarter worth $115,000. Finally, Point72 DIFC Ltd acquired a new position in Brookline Bancorp in the second quarter worth $116,000. Institutional investors and hedge funds own 78.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Brookline Bancorp Stock Up 1.4 %

Shares of Brookline Bancorp stock opened at $9.87 on Friday. The stock has a market capitalization of $877.39 million, a price-to-earnings ratio of 10.61 and a beta of 0.78. Brookline Bancorp, Inc. has a twelve month low of $7.93 and a twelve month high of $11.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19. The business’s 50 day simple moving average is $9.95 and its 200-day simple moving average is $9.33.

Brookline Bancorp (NASDAQ:BRKL) last issued its 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. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. The firm had revenue of $161.75 million for the quarter, compared to analyst estimates of $89.40 million. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts forecast that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.54 annualized dividend and a yield of 5.47%. Brookline Bancorp’s dividend payout ratio is presently 58.06%.

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.