GAMMA Investing LLC Makes New Investment in Brookline Bancorp, Inc. (NASDAQ:BRKL)

GAMMA Investing LLC acquired a new position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,118 shares of the bank’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRKL. Nisa Investment Advisors LLC lifted its stake in shares of Brookline Bancorp by 2,268.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after purchasing an additional 2,200 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Brookline Bancorp by 7.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock valued at $322,000 after purchasing an additional 2,373 shares during the last quarter. Swiss National Bank lifted its stake in shares of Brookline Bancorp by 1.7% in the 3rd quarter. Swiss National Bank now owns 195,600 shares of the bank’s stock valued at $1,782,000 after purchasing an additional 3,300 shares during the last quarter. Parsons Capital Management Inc. RI lifted its stake in shares of Brookline Bancorp by 7.9% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 54,662 shares of the bank’s stock valued at $498,000 after purchasing an additional 3,986 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Brookline Bancorp by 46.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,915 shares of the bank’s stock valued at $136,000 after purchasing an additional 4,728 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BRKL. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods cut their price objective on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.08.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL opened at $8.85 on Friday. The stock’s 50-day moving average is $9.38 and its two-hundred day moving average is $9.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp, Inc. has a 1-year low of $7.00 and a 1-year high of $11.52. The company has a market cap of $793.37 million, a price-to-earnings ratio of 9.52 and a beta of 0.79.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 6.10%. Brookline Bancorp’s 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.