Alta Wealth Advisors LLC Takes Position in Brookline Bancorp, Inc. (NASDAQ:BRKL)

Alta Wealth Advisors LLC bought a new position in Brookline Bancorp, Inc. (NASDAQ:BRKL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,570 shares of the bank’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in Brookline Bancorp in the 1st quarter valued at approximately $47,000. CWM LLC increased its holdings in shares of Brookline Bancorp by 1,806.5% during the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after acquiring an additional 8,364 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Brookline Bancorp in the 2nd quarter valued at approximately $102,000. Creative Planning acquired a new stake in Brookline Bancorp in the 3rd quarter worth approximately $103,000. Finally, XTX Topco Ltd bought a new stake in Brookline Bancorp during the second quarter worth approximately $115,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Performance

Shares of NASDAQ BRKL opened at $10.76 on Friday. Brookline Bancorp, Inc. has a 12 month low of $7.93 and a 12 month high of $11.52. The company has a market cap of $956.51 million, a P/E ratio of 11.57 and a beta of 0.78. The business’s 50 day moving average is $10.02 and its two-hundred day moving average is $9.37. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.19.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $89.40 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, equities analysts expect that Brookline Bancorp, Inc. will post 0.77 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 5.02%. The ex-dividend date of this dividend was Friday, August 16th. Brookline Bancorp’s dividend payout ratio is presently 58.06%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised 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.

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.