Short Interest in Brookline Bancorp, Inc. (NASDAQ:BRKL) Drops By 43.3%

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

Brookline Bancorp Price Performance

Shares of Brookline Bancorp stock traded down $0.06 on Thursday, hitting $12.24. 37,872 shares of the company traded hands, compared to its average volume of 545,435. The stock has a market capitalization of $1.09 billion, a P/E 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 company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The business 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. Research analysts expect that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.135 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.41%. Brookline Bancorp’s dividend payout ratio (DPR) is 70.13%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in Brookline Bancorp by 124.2% during 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 period. FMR LLC lifted its position in Brookline Bancorp by 174.9% during the third quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after purchasing an additional 3,279 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Brookline Bancorp during the fourth quarter valued at $72,000. KBC Group NV grew its position in Brookline Bancorp by 60.3% during 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 during the period. Finally, Creative Planning acquired a new stake in Brookline Bancorp during the third quarter worth about $103,000. 78.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.