Brookline Bancorp, Inc. (NASDAQ:BRKL) Sees Large Growth in Short Interest

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,800,000 shares, an increase of 7.8% from the December 31st total of 1,670,000 shares. Based on an average daily trading volume, of 697,000 shares, the short-interest ratio is currently 2.6 days.

Brookline Bancorp Trading Down 1.4 %

Shares of NASDAQ:BRKL traded down $0.17 during trading on Monday, hitting $12.06. 468,429 shares of the company’s stock were exchanged, compared to its average volume of 582,259. The firm has a 50-day moving average price of $12.09 and a two-hundred day moving average price of $11.07. The firm has a market cap of $1.07 billion, a P/E ratio of 15.66 and a beta of 0.79. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. Equities analysts predict that Brookline Bancorp will post 1.09 earnings per share for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 4.48%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 70.13%.

Institutional Trading of Brookline Bancorp

Several hedge funds have recently bought and sold shares of BRKL. Versant Capital Management Inc increased its position in shares of Brookline Bancorp by 124.2% during the fourth 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 in the last quarter. FMR LLC boosted its stake in Brookline Bancorp by 174.9% in the 3rd 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 period. KBC Group NV increased its holdings 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 in the last quarter. Creative Planning acquired a new stake in shares of Brookline Bancorp in the 3rd quarter valued at about $103,000. Finally, Townsquare Capital LLC bought a new stake in shares of Brookline Bancorp in the third quarter valued at about $111,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a report on Tuesday, December 24th. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th. Finally, StockNews.com initiated coverage on Brookline Bancorp in a report on Monday, January 27th. They set a “hold” rating on the stock.

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.