Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Up 17.9% in October

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,250,000 shares, an increase of 17.9% from the September 30th total of 1,060,000 shares. Based on an average trading volume of 564,500 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th.

Brookline Bancorp Price Performance

NASDAQ BRKL traded up $0.40 during trading hours on Monday, reaching $11.26. The company’s stock had a trading volume of 525,144 shares, compared to its average volume of 501,979. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $11.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 11.68 and a beta of 0.78. The firm’s 50-day moving average price is $10.11 and its 200-day moving average price is $9.41.

Brookline Bancorp (NASDAQ:BRKL) last released 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. The firm had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, equities research analysts predict that Brookline Bancorp will post 0.77 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.80%. Brookline Bancorp’s payout ratio is 58.06%.

Institutional Investors Weigh In On Brookline Bancorp

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Brookline Bancorp during the 1st quarter valued at approximately $47,000. CWM LLC boosted its position in shares of Brookline Bancorp by 1,806.5% during the 2nd 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 purchased a new position in shares of Brookline Bancorp in the second quarter valued at $102,000. Creative Planning bought a new stake in Brookline Bancorp in the third quarter worth $103,000. Finally, XTX Topco Ltd purchased a new stake in Brookline Bancorp during the second quarter valued at $115,000. 78.91% of the stock is owned by institutional investors.

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.