Brookline Bancorp, Inc. (NASDAQ:BRKL) Sees Significant Decrease in Short Interest

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,150,000 shares, a drop of 43.3% from the January 15th total of 2,030,000 shares. Based on an average daily trading volume, of 712,500 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Brookline Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in BRKL. Versant Capital Management Inc increased its stake in Brookline Bancorp by 124.2% in the 4th quarter. Versant Capital Management Inc now owns 2,879 shares of the bank’s stock worth $34,000 after acquiring an additional 1,595 shares during the last quarter. FMR LLC increased its position in shares of Brookline Bancorp by 174.9% in the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock worth $52,000 after purchasing an additional 3,279 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Brookline Bancorp in the fourth quarter valued at approximately $72,000. KBC Group NV boosted its holdings in shares of Brookline Bancorp by 60.3% in the 4th quarter. KBC Group NV now owns 6,438 shares of the bank’s stock worth $76,000 after purchasing an additional 2,421 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Brookline Bancorp during the 3rd quarter valued at about $103,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Brookline Bancorp Price Performance

NASDAQ BRKL traded down $0.06 during trading hours on Thursday, hitting $12.24. The company had a trading volume of 37,872 shares, compared to its average volume of 545,435. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 15.89 and a beta of 0.79. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The firm has a 50 day simple moving average of $12.07 and a 200 day simple moving average of $11.17.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. Equities research analysts expect that Brookline Bancorp will post 1.35 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.54 annualized dividend and a dividend yield of 4.41%. Brookline Bancorp’s payout ratio is currently 70.13%.

Analyst Ratings Changes

BRKL has been the subject of a number of recent analyst reports. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective on the stock. in a research note on Tuesday, December 24th. Finally, StockNews.com initiated coverage on shares of Brookline Bancorp in a research report on Wednesday. They set a “hold” rating for the company.

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.