Brookline Bancorp, Inc. $BRKL Shares Acquired by Alta Wealth Advisors LLC

Alta Wealth Advisors LLC lifted its stake in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,613 shares of the bank’s stock after buying an additional 1,043 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Brookline Bancorp were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Brookline Bancorp during the second quarter worth $465,000. State of Alaska Department of Revenue lifted its stake in Brookline Bancorp by 7.3% during the second quarter. State of Alaska Department of Revenue now owns 52,985 shares of the bank’s stock worth $558,000 after purchasing an additional 3,616 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Brookline Bancorp by 8,552.0% during the second quarter. Farther Finance Advisors LLC now owns 8,652 shares of the bank’s stock worth $91,000 after purchasing an additional 8,552 shares during the last quarter. Strs Ohio bought a new position in Brookline Bancorp during the first quarter worth $622,000. Finally, Mendon Capital Advisors Corp lifted its stake in Brookline Bancorp by 66.7% during the first quarter. Mendon Capital Advisors Corp now owns 500,000 shares of the bank’s stock worth $5,450,000 after purchasing an additional 200,000 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Price Performance

NASDAQ:BRKL opened at $10.95 on Friday. The business’s 50-day moving average price is $10.78 and its 200 day moving average price is $10.63. The firm has a market cap of $975.75 million, a P/E ratio of 12.30 and a beta of 0.94. Brookline Bancorp, Inc. has a 52-week low of $9.28 and a 52-week high of $13.15. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.92.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, July 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $94.66 million for the quarter, compared to analyst estimates of $94.90 million. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. As a group, sell-side analysts predict that Brookline Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a yield of 4.9%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 60.67%.

Insiders Place Their Bets

In other Brookline Bancorp news, insider Janytra M. Brooks sold 3,763 shares of Brookline Bancorp stock in a transaction dated Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total transaction of $38,683.64. Following the transaction, the insider owned 44,322 shares of the company’s stock, valued at $455,630.16. The trade was a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.55% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Brookline Bancorp to a “hold” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Brookline Bancorp currently has a consensus rating of “Buy” and an average target price of $15.25.

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.