Wealth Enhancement Advisory Services LLC Purchases Shares of 11,681 Brookline Bancorp, Inc. (NASDAQ:BRKL)

Wealth Enhancement Advisory Services LLC purchased a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,681 shares of the bank’s stock, valued at approximately $118,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its position in Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after buying an additional 258,267 shares in the last quarter. American Century Companies Inc. grew its holdings 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. AQR Capital Management LLC increased its position in shares of Brookline Bancorp by 47.5% during the second 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 period. Inspire Advisors LLC acquired a new position in shares of Brookline Bancorp in the second quarter valued at $1,298,000. Finally, Bank of Montreal Can bought a new position in Brookline Bancorp in the second quarter worth $1,042,000. Institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Trading Up 0.1 %

BRKL stock opened at $12.77 on Wednesday. Brookline Bancorp, Inc. has a 1-year low of $8.01 and a 1-year high of $12.94. The company has a current ratio of 1.13, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22. The business’s 50 day moving average is $10.53 and its 200-day moving average is $9.63. The firm has a market cap of $1.14 billion, a P/E ratio of 15.39 and a beta of 0.76.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities analysts anticipate that Brookline Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Analysts Set New Price Targets

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

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.