Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Up 7.8% in December

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,800,000 shares, an increase of 7.8% from the December 15th total of 1,670,000 shares. Based on an average daily trading volume, of 697,000 shares, the days-to-cover ratio is presently 2.6 days.

Brookline Bancorp Stock Performance

Shares of Brookline Bancorp stock traded up $0.08 during trading on Friday, hitting $12.00. 420,101 shares of the company’s stock were exchanged, compared to its average volume of 878,047. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.79. The business has a 50-day simple moving average of $12.18 and a 200-day simple moving average of $10.83. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 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 firm had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts forecast that Brookline Bancorp will post 0.82 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders 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 4.50%. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BRKL shares. Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research note on Tuesday, December 24th. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research report on Friday, December 20th. Finally, StockNews.com assumed coverage on Brookline Bancorp in a report on Sunday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Brookline Bancorp

A number of institutional investors have recently modified their holdings of the business. Barclays PLC boosted its position in Brookline Bancorp by 99.8% during the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after purchasing an additional 106,345 shares in the last quarter. American Century Companies Inc. lifted its holdings in Brookline Bancorp by 21.1% during the second quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Brookline Bancorp by 12.2% during the third quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock worth $1,988,000 after purchasing an additional 21,394 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Brookline Bancorp by 384.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,333 shares of the bank’s stock worth $599,000 after buying an additional 47,094 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Brookline Bancorp in the third quarter valued at approximately $432,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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.