Renaissance Technologies LLC Buys 59,317 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Renaissance Technologies LLC lifted its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,267,888 shares of the bank’s stock after purchasing an additional 59,317 shares during the quarter. Renaissance Technologies LLC owned about 1.43% of Brookline Bancorp worth $10,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Inspire Advisors LLC bought a new position in shares of Brookline Bancorp during the 2nd quarter worth about $1,298,000. American Century Companies Inc. boosted its position in shares of Brookline Bancorp by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock worth $11,951,000 after purchasing an additional 249,113 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Brookline Bancorp by 38.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 107,343 shares of the bank’s stock worth $896,000 after purchasing an additional 29,568 shares in the last quarter. Quest Partners LLC lifted its position in Brookline Bancorp by 123.7% in the 2nd quarter. Quest Partners LLC now owns 75,626 shares of the bank’s stock valued at $631,000 after acquiring an additional 41,826 shares in the last quarter. Finally, CM Management LLC lifted its position in Brookline Bancorp by 5.6% in the 2nd quarter. CM Management LLC now owns 190,000 shares of the bank’s stock valued at $1,586,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL opened at $10.23 on Tuesday. Brookline Bancorp, Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $11.52. The stock has a market cap of $909.40 million, a price-to-earnings ratio of 11.00 and a beta of 0.78. 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 firm’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $9.30.

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

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid 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 5.28%. Brookline Bancorp’s dividend payout ratio (DPR) is 58.06%.

Wall Street Analysts Forecast Growth

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

Brookline Bancorp Company 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.