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

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,120,000 shares, a drop of 10.4% from the October 15th total of 1,250,000 shares. Based on an average daily volume of 597,600 shares, the short-interest ratio is presently 1.9 days.

Brookline Bancorp Stock Performance

Shares of BRKL stock opened at $12.16 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.65 and a beta of 0.76. The company has a 50 day moving average price of $10.73 and a 200-day moving average price of $9.75.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The business had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. During the same period last year, the firm posted $0.26 earnings per share. As a group, equities research analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio is presently 65.06%.

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Brookline Bancorp during the first quarter worth $47,000. FMR LLC boosted its holdings in shares of 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 last quarter. CWM LLC boosted its holdings in shares of Brookline Bancorp by 1,806.5% during the 2nd quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after purchasing an additional 8,364 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Brookline Bancorp during the second quarter valued at about $102,000. Finally, Creative Planning bought a new stake in shares of Brookline Bancorp in the third quarter worth about $103,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price target on Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th.

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.