Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Update

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,230,000 shares, a growth of 68.0% from the November 15th total of 732,200 shares. Based on an average daily volume of 591,500 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised Brookline Bancorp from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $14.50 in a research note on Wednesday, December 4th.

Brookline Bancorp Trading Down 1.5 %

Brookline Bancorp stock traded down $0.19 during mid-day trading on Thursday, hitting $12.55. The company’s stock had a trading volume of 100,104 shares, compared to its average volume of 515,059. The business has a 50 day moving average price of $11.59 and a 200-day moving average price of $10.18. Brookline Bancorp has a 12 month low of $8.01 and a 12 month high of $13.15. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 15.35 and a beta of 0.78. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The firm had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. As a group, analysts forecast that Brookline Bancorp will post 0.82 EPS for the current year.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.30%. Brookline Bancorp’s dividend payout ratio is currently 65.06%.

Institutional Investors Weigh In On Brookline Bancorp

A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of 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 in the last quarter. CWM LLC grew its stake in shares of Brookline Bancorp by 1,806.5% in the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock worth $74,000 after acquiring an additional 8,364 shares during the period. SG Americas Securities LLC bought a new stake in shares of Brookline Bancorp in the second quarter worth approximately $102,000. Creative Planning purchased a new position in shares of Brookline Bancorp during the third quarter valued at approximately $103,000. Finally, Townsquare Capital LLC bought a new position in Brookline Bancorp during the third quarter valued at approximately $111,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

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.