Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Up 50.8% in February

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,780,000 shares, an increase of 50.8% from the February 13th total of 1,180,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 667,900 shares, the days-to-cover ratio is currently 2.7 days.

Brookline Bancorp Price Performance

Shares of NASDAQ BRKL traded up $0.21 during trading hours on Friday, reaching $10.93. 305,740 shares of the stock traded hands, compared to its average volume of 525,726. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The company’s 50-day simple moving average is $11.81 and its two-hundred day simple moving average is $11.42. The company has a market capitalization of $973.92 million, a P/E ratio of 14.19 and a beta of 0.78.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results 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 forecast that Brookline Bancorp will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Friday, February 14th. Brookline Bancorp’s payout ratio is currently 70.13%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in Brookline Bancorp by 805.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the bank’s stock valued at $33,000 after purchasing an additional 2,513 shares during the period. Versant Capital Management Inc increased 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 valued at $34,000 after purchasing an additional 1,595 shares during the period. Pinney & Scofield Inc. purchased a new position in Brookline Bancorp during the 4th quarter valued at $35,000. FMR LLC increased its position in Brookline Bancorp by 174.9% during the 3rd 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. Finally, C M Bidwell & Associates Ltd. purchased a new position in Brookline Bancorp during the 4th quarter valued at $72,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BRKL shares. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target for the company. in a research report on Tuesday, December 24th. StockNews.com started coverage on Brookline Bancorp in a research report on Saturday, March 8th. They set a “hold” rating for the company. Finally, 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 research report on Friday, December 20th.

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.