Water Island Capital LLC Takes $715,000 Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Water Island Capital LLC acquired a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 60,587 shares of the bank's stock, valued at approximately $715,000. Water Island Capital LLC owned approximately 0.07% of Brookline Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Brookline Bancorp by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,570,964 shares of the bank's stock worth $112,937,000 after purchasing an additional 45,448 shares during the last quarter. State Street Corp grew its position in shares of Brookline Bancorp by 0.5% in the 3rd quarter. State Street Corp now owns 4,129,487 shares of the bank's stock worth $41,667,000 after acquiring an additional 21,345 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Brookline Bancorp by 7.7% in the 4th quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank's stock valued at $36,974,000 after acquiring an additional 224,888 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Brookline Bancorp by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank's stock valued at $21,084,000 after acquiring an additional 26,714 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Brookline Bancorp by 17.0% during the 4th quarter. American Century Companies Inc. now owns 1,903,813 shares of the bank's stock valued at $22,465,000 after acquiring an additional 276,025 shares in the last quarter. Institutional investors own 78.91% of the company's stock.

Remove Ads

Brookline Bancorp Stock Performance

Shares of BRKL traded up $0.14 during midday trading on Tuesday, hitting $9.81. 353,422 shares of the stock traded hands, compared to its average volume of 581,325. The business's 50 day moving average price is $11.08 and its two-hundred day moving average price is $11.48. The firm has a market capitalization of $882.51 million, a PE ratio of 12.74 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. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Equities research analysts predict that Brookline Bancorp, Inc. will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.50%. The ex-dividend date was Friday, February 14th. Brookline Bancorp's dividend payout ratio is currently 70.13%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BRKL shares. Raymond James upgraded shares of Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 price target on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods lowered Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 target price for the company. in a report on Tuesday, December 24th. Finally, StockNews.com started coverage on Brookline Bancorp in a research report on Wednesday, April 9th. They set a "hold" rating on the stock.

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.