Point72 DIFC Ltd Invests $116,000 in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Point72 DIFC Ltd bought a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 13,864 shares of the bank’s stock, valued at approximately $116,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Wakefield Asset Management LLLP acquired a new stake in Brookline Bancorp during the 1st quarter valued at approximately $899,000. Jennison Associates LLC raised its stake in Brookline Bancorp by 9.4% during the first quarter. Jennison Associates LLC now owns 4,917,763 shares of the bank’s stock worth $48,981,000 after buying an additional 424,115 shares during the last quarter. American Century Companies Inc. lifted its holdings in Brookline Bancorp by 21.1% in the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after buying an additional 249,113 shares during the period. Hsbc Holdings PLC bought a new stake in Brookline Bancorp during the fourth quarter valued at $1,881,000. Finally, Inspire Advisors LLC acquired a new stake in Brookline Bancorp during the 2nd quarter worth about $1,298,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Stock Performance

Shares of BRKL opened at $9.78 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.11 and a quick ratio of 1.11. Brookline Bancorp, Inc. has a one year low of $7.93 and a one year high of $11.52. The stock has a 50-day moving average of $9.99 and a 200-day moving average of $9.32. The company has a market cap of $869.39 million, a PE ratio of 10.52 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share 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 business had revenue of $161.75 million for the quarter, compared to analysts’ expectations of $89.40 million. During the same quarter last year, the firm earned $0.26 EPS. On average, equities research analysts predict that Brookline Bancorp, Inc. will post 0.77 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend was Friday, August 16th. Brookline Bancorp’s payout ratio is currently 58.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price objective on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research note 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.