Short Interest in Brookline Bancorp, Inc. (NASDAQ:BRKL) Expands By 7.8%

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

Brookline Bancorp Stock Down 1.4 %

Shares of NASDAQ:BRKL traded down $0.17 during midday trading on Monday, reaching $12.06. The company’s stock had a trading volume of 468,429 shares, compared to its average volume of 582,259. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $12.09 and a 200-day moving average of $11.07. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The firm has a market capitalization of $1.07 billion, a P/E ratio of 15.66 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last released its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.94% and a net margin of 10.51%. On average, research analysts anticipate that Brookline Bancorp will post 1.09 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.135 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.54 annualized dividend and a yield of 4.48%. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

Institutional Trading of Brookline Bancorp

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Brookline Bancorp by 109.4% in the third quarter. JPMorgan Chase & Co. now owns 647,100 shares of the bank’s stock worth $6,529,000 after buying an additional 338,050 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Brookline Bancorp by 67.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock worth $6,484,000 after purchasing an additional 258,267 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Brookline Bancorp by 7.7% in the fourth quarter. Jennison Associates LLC now owns 3,133,365 shares of the bank’s stock worth $36,974,000 after buying an additional 224,888 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Brookline Bancorp by 47.5% during the second quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after acquiring an additional 158,329 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Brookline Bancorp during the second quarter valued at $1,042,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Analyst Ratings Changes

BRKL has been the topic of a number of analyst reports. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Friday, December 20th. StockNews.com began coverage on shares of Brookline Bancorp in a research note on Monday, January 27th. They issued a “hold” rating for the company. Finally, 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, December 24th.

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.