Mendon Capital Advisors Corp Acquires New Stake in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Mendon Capital Advisors Corp bought a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 300,000 shares of the bank's stock, valued at approximately $3,540,000. Brookline Bancorp makes up about 1.7% of Mendon Capital Advisors Corp's holdings, making the stock its 20th biggest holding. Mendon Capital Advisors Corp owned about 0.34% of Brookline Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its holdings in Brookline Bancorp by 118.8% in the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank's stock valued at $12,295,000 after buying an additional 565,719 shares in the last quarter. JPMorgan Chase & Co. increased its position in Brookline Bancorp by 62.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank's stock worth $12,414,000 after purchasing an additional 404,897 shares during the last quarter. Curi RMB Capital LLC purchased a new position in Brookline Bancorp during the fourth quarter worth about $3,540,000. American Century Companies Inc. grew its stake in shares of Brookline Bancorp by 17.0% in the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock valued at $22,465,000 after buying an additional 276,025 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Brookline Bancorp by 36.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 878,717 shares of the bank's stock worth $10,369,000 after buying an additional 236,066 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Down 1.7 %

BRKL stock traded down $0.18 during mid-day trading on Friday, reaching $10.26. The company had a trading volume of 303,885 shares, compared to its average volume of 583,747. Brookline Bancorp, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The company has a market capitalization of $922.99 million, a price-to-earnings ratio of 13.32 and a beta of 0.71. 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 firm has a fifty day simple moving average of $10.71 and a 200 day simple moving average of $11.48.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced 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). The firm had revenue of $91.49 million during the quarter, compared to analyst estimates of $91.38 million. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Analysts forecast that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.54 annualized dividend and a yield of 5.26%. Brookline Bancorp's dividend payout ratio is currently 70.13%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Brookline Bancorp in a research note on Friday. They set a "hold" rating for the company.

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.