Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Up 50.8% in February

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a large growth in short interest in 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. Based on an average daily trading volume, of 667,900 shares, the days-to-cover ratio is presently 2.7 days. Approximately 2.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors have recently made changes to their positions in BRKL. Invesco Ltd. lifted its stake in shares of Brookline Bancorp by 118.8% in the 4th quarter. Invesco Ltd. now owns 1,041,930 shares of the bank’s stock worth $12,295,000 after purchasing an additional 565,719 shares during the period. Pentwater Capital Management LP bought a new position in shares of Brookline Bancorp in the 4th quarter worth approximately $5,900,000. JPMorgan Chase & Co. lifted its stake in shares of Brookline Bancorp by 62.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,051,997 shares of the bank’s stock worth $12,414,000 after purchasing an additional 404,897 shares during the period. AQR Arbitrage LLC purchased a new stake in Brookline Bancorp in the 4th quarter worth approximately $4,747,000. Finally, Curi RMB Capital LLC purchased a new stake in Brookline Bancorp in the 4th quarter worth approximately $3,540,000. Institutional investors own 78.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research report on Tuesday, December 24th. 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 research note on Friday, December 20th. Finally, StockNews.com started coverage on shares of Brookline Bancorp in a research note on Saturday, March 8th. They issued a “hold” rating on the stock.

Brookline Bancorp Stock Performance

BRKL traded up $0.21 during midday trading on Friday, hitting $10.93. 305,740 shares of the company traded hands, compared to its average volume of 525,726. 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 market capitalization of $973.92 million, a PE ratio of 14.19 and a beta of 0.78. The company’s 50-day moving average is $11.81 and its 200 day moving average is $11.42. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. On average, research analysts expect that Brookline Bancorp will post 1.35 EPS for the current year.

Brookline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.94%. The ex-dividend date was Friday, February 14th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 70.13%.

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.