Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Update

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 1,230,000 shares, an increase of 68.0% from the November 15th total of 732,200 shares. Based on an average daily volume of 591,500 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after acquiring an additional 3,279 shares in the last quarter. CWM LLC lifted its holdings in shares of Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after purchasing an additional 8,364 shares during the last quarter. Creative Planning purchased a new stake in shares of Brookline Bancorp in the 3rd quarter valued at about $103,000. Townsquare Capital LLC acquired a new stake in shares of Brookline Bancorp in the 3rd quarter valued at about $111,000. Finally, Alta Wealth Advisors LLC purchased a new position in Brookline Bancorp during the 3rd quarter worth approximately $117,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Down 0.3 %

Shares of BRKL traded down $0.04 during mid-day trading on Friday, reaching $12.56. The company’s stock had a trading volume of 387,803 shares, compared to its average volume of 515,705. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The stock has a market cap of $1.12 billion, a PE ratio of 15.13 and a beta of 0.78. The company’s 50 day moving average is $11.70 and its 200 day moving average is $10.23.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $165.91 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.26 earnings per share. Equities analysts anticipate that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, November 15th. Brookline Bancorp’s payout ratio is 65.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised shares of Brookline Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $14.50 in a research report on Wednesday, December 4th.

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.