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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC grew its position in shares of 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 acquiring an additional 2,513 shares during the period. Versant Capital Management Inc grew its position in shares of 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 acquiring an additional 1,595 shares during the period. Pinney & Scofield Inc. bought a new position in shares of Brookline Bancorp during the 4th quarter valued at approximately $35,000. FMR LLC grew its position 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 acquiring an additional 3,279 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Brookline Bancorp during the 4th quarter valued at approximately $72,000. 78.91% of the stock is owned by institutional investors.

Brookline Bancorp Stock Up 2.0 %

Brookline Bancorp stock opened at $10.93 on Monday. Brookline Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $13.15. The stock has a market cap of $973.92 million, a PE ratio of 14.19 and a beta of 0.78. The firm’s 50-day simple moving average is $11.81 and its 200 day simple moving average is $11.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share 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%. Research analysts predict that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 4.94%. The ex-dividend date of this dividend was Friday, February 14th. Brookline Bancorp’s dividend payout ratio is currently 70.13%.

Wall Street Analysts Forecast Growth

BRKL has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Brookline Bancorp in a report on Sunday. They set a “hold” rating for the company. Keefe, Bruyette & Woods cut 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. Finally, Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a 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.