Cubist Systematic Strategies LLC Sells 118,043 Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL)

Cubist Systematic Strategies LLC trimmed its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 89.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,531 shares of the bank’s stock after selling 118,043 shares during the period. Cubist Systematic Strategies LLC’s holdings in Brookline Bancorp were worth $113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in Brookline Bancorp by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,432 shares of the bank’s stock worth $338,000 after buying an additional 2,002 shares during the period. Dark Forest Capital Management LP bought a new position in Brookline Bancorp during the second quarter worth $120,000. AQR Capital Management LLC raised its stake in Brookline Bancorp by 47.5% during the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock valued at $4,106,000 after purchasing an additional 158,329 shares during the last quarter. Caxton Associates LP bought a new stake in Brookline Bancorp in the 2nd quarter valued at $318,000. Finally, Squarepoint Ops LLC grew its position in Brookline Bancorp by 562.0% in the 2nd quarter. Squarepoint Ops LLC now owns 108,292 shares of the bank’s stock worth $904,000 after purchasing an additional 91,933 shares during the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their target price on shares of 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 Trading Up 2.1 %

Shares of BRKL stock opened at $10.56 on Wednesday. The firm has a fifty day moving average of $9.95 and a 200-day moving average of $9.34. The stock has a market cap of $938.73 million, a price-to-earnings ratio of 11.35 and a beta of 0.78. Brookline Bancorp, Inc. has a 52-week low of $7.93 and a 52-week high of $11.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $89.40 million. During the same period in the prior year, the company posted $0.26 earnings per share. On average, equities research analysts forecast that Brookline Bancorp, Inc. will post 0.77 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The firm 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. This represents a $0.54 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date was Friday, August 16th. Brookline Bancorp’s dividend payout ratio is currently 58.06%.

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.