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

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,670,000 shares, an increase of 35.8% from the November 30th total of 1,230,000 shares. Based on an average daily volume of 678,700 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BRKL. Keefe, Bruyette & Woods cut 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. StockNews.com started coverage on Brookline Bancorp in a research note on Thursday. They set a “hold” rating on the stock. Finally, Raymond James raised shares of 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.

Institutional Investors Weigh In On Brookline Bancorp

A number of large investors have recently bought and sold shares of the business. FMR LLC grew its stake in Brookline Bancorp by 174.9% in the 3rd quarter. FMR LLC now owns 5,154 shares of the bank’s stock valued at $52,000 after buying an additional 3,279 shares during the last quarter. Creative Planning bought a new stake in Brookline Bancorp during the third quarter valued at about $103,000. Townsquare Capital LLC acquired a new stake in shares of Brookline Bancorp in the third quarter valued at about $111,000. Alta Wealth Advisors LLC bought a new position in shares of Brookline Bancorp in the third quarter worth about $117,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Brookline Bancorp during the 3rd quarter worth about $118,000. 78.91% of the stock is currently owned by institutional investors.

Brookline Bancorp Stock Down 1.4 %

Shares of NASDAQ:BRKL traded down $0.17 during midday trading on Friday, hitting $11.77. 797,947 shares of the stock were exchanged, compared to its average volume of 548,896. The company has a market capitalization of $1.05 billion, a PE ratio of 14.18 and a beta of 0.78. 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 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The business’s fifty day simple moving average is $12.04 and its two-hundred day simple moving average is $10.48.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $165.91 million for the quarter, compared to analyst estimates 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 firm posted $0.26 EPS. As a group, research analysts predict that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 65.06%.

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.