Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Down 5.3% in August

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,070,000 shares, a decline of 5.3% from the August 15th total of 1,130,000 shares. Based on an average trading volume of 581,800 shares, the short-interest ratio is currently 1.8 days.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookline Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $11.25.

Brookline Bancorp Trading Up 1.6 %

BRKL stock opened at $10.29 on Thursday. Brookline Bancorp has a 52 week low of $7.93 and a 52 week high of $11.52. The company has a market capitalization of $914.73 million, a PE ratio of 11.05 and a beta of 0.78. The company’s 50-day simple moving average is $9.92 and its 200 day simple moving average is $9.29. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.11 and a current ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. The business had revenue of $161.75 million during the quarter, compared to analysts’ expectations of $89.40 million. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, sell-side analysts anticipate that Brookline Bancorp will post 0.77 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend was Friday, August 16th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 58.06%.

Institutional Investors Weigh In On Brookline Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRKL. EntryPoint Capital LLC bought a new position in shares of Brookline Bancorp in the 1st quarter valued at $47,000. CWM LLC grew its position in Brookline Bancorp by 1,806.5% in the second quarter. CWM LLC now owns 8,827 shares of the bank’s stock valued at $74,000 after acquiring an additional 8,364 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Brookline Bancorp in the second quarter worth about $102,000. XTX Topco Ltd bought a new position in Brookline Bancorp in the 2nd quarter valued at approximately $115,000. Finally, Point72 DIFC Ltd bought a new position in shares of Brookline Bancorp in the 2nd quarter valued at $116,000. 78.91% of the stock is currently owned by institutional investors.

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.