Empowered Funds LLC Has $2.45 Million Holdings in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Empowered Funds LLC grew its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,690 shares of the bank’s stock after purchasing an additional 12,328 shares during the quarter. Empowered Funds LLC owned approximately 0.27% of Brookline Bancorp worth $2,449,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares in the last quarter. AQR Capital Management LLC boosted its stake 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 in the last quarter. Inspire Advisors LLC acquired a new stake in shares of Brookline Bancorp during the second quarter valued at about $1,298,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Brookline Bancorp by 4.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 52,099 shares of the bank’s stock valued at $435,000 after purchasing an additional 2,097 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Brookline Bancorp by 67.2% during the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock valued at $6,484,000 after purchasing an additional 258,267 shares in 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 lifted their price target 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 Price Performance

Brookline Bancorp stock opened at $12.09 on Wednesday. The stock’s 50 day moving average is $10.78 and its 200 day moving average is $9.77. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $1.08 billion, a P/E ratio of 14.57 and a beta of 0.76. Brookline Bancorp, Inc. has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company 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 period in the previous year, the firm earned $0.26 earnings per share. As a group, research analysts expect that Brookline Bancorp, Inc. will post 0.82 EPS for the current year.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.47%. Brookline Bancorp’s payout ratio is currently 65.06%.

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.