Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Up 35.8% in December

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,670,000 shares, a growth of 35.8% from the November 30th total of 1,230,000 shares. Based on an average daily volume of 678,700 shares, the days-to-cover ratio is currently 2.5 days.

Brookline Bancorp Stock Performance

BRKL traded down $0.17 during midday trading on Friday, hitting $11.77. 797,947 shares of the company traded hands, compared to its average volume of 548,896. The company’s 50-day moving average is $12.04 and its 200 day moving average is $10.48. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.05 billion, a PE ratio of 14.18 and a beta of 0.78. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share 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 company had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, research analysts expect that Brookline Bancorp will post 0.82 EPS for the current year.

Brookline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid 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 4.59%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRKL. StockNews.com started coverage on shares of Brookline Bancorp in a report on Thursday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a report on Tuesday. Finally, Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Friday, December 20th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Brookline Bancorp by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 1,181,769 shares of the bank’s stock worth $9,868,000 after acquiring an additional 56,291 shares during the period. Crestwood Advisors Group LLC lifted its position in Brookline Bancorp by 164.6% during the second quarter. Crestwood Advisors Group LLC now owns 32,149 shares of the bank’s stock valued at $268,000 after purchasing an additional 20,000 shares in the last quarter. Princeton Capital Management LLC bought a new stake in Brookline Bancorp during the second quarter valued at about $150,000. CM Management LLC grew its holdings in Brookline Bancorp by 5.6% during the second quarter. CM Management LLC now owns 190,000 shares of the bank’s stock valued at $1,586,000 after purchasing an additional 10,000 shares during the period. Finally, Quest Partners LLC increased its position in Brookline Bancorp by 123.7% in the second quarter. Quest Partners LLC now owns 75,626 shares of the bank’s stock worth $631,000 after buying an additional 41,826 shares in the last quarter. Institutional investors own 78.91% of the company’s stock.

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.