Short Interest in Brookline Bancorp, Inc. (NASDAQ:BRKL) Increases By 7.8%

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of 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 trading volume of 697,000 shares, the days-to-cover ratio is currently 2.6 days.

Brookline Bancorp Trading Down 1.4 %

Shares of BRKL stock traded down $0.17 during trading hours on Monday, hitting $12.06. 468,429 shares of the company’s stock traded hands, compared to its average volume of 582,259. The stock has a market cap of $1.07 billion, a PE ratio of 15.66 and a beta of 0.79. The stock’s 50 day simple moving average is $12.09 and its 200 day simple moving average is $11.07. 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 12 month low of $8.01 and a 12 month high of $13.15.

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

Brookline Bancorp Announces Dividend

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 given a $0.135 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.48%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 70.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BRKL shares. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a report on Tuesday, December 24th. StockNews.com began coverage on shares of Brookline Bancorp in a report on Monday, January 27th. 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 note on Friday, December 20th.

Institutional Investors Weigh In On Brookline Bancorp

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Brookline Bancorp by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after acquiring an additional 338,050 shares during the period. Assenagon Asset Management S.A. increased its stake in Brookline Bancorp by 67.2% in the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock valued at $6,484,000 after purchasing an additional 258,267 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Brookline Bancorp by 7.7% during the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock valued at $36,974,000 after purchasing an additional 224,888 shares during the period. AQR Capital Management LLC boosted its position in shares of Brookline Bancorp by 47.5% during the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after purchasing an additional 158,329 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Brookline Bancorp in the 2nd quarter valued at about $1,042,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.