Short Interest in Brookline Bancorp, Inc. (NASDAQ:BRKL) Expands By 17.9%

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,250,000 shares, a growth 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 currently 2.2 days.

Brookline Bancorp Price Performance

NASDAQ BRKL traded up $0.16 on Wednesday, hitting $11.45. The company had a trading volume of 164,833 shares, compared to its average volume of 500,413. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $10.17 and its 200-day moving average price is $9.44. The company has a market capitalization of $1.02 billion, a PE ratio of 12.14 and a beta of 0.78. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $11.63.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. During the same quarter last year, the business earned $0.26 earnings per share. As a group, analysts predict that Brookline Bancorp will post 0.77 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s dividend payout ratio is currently 58.06%.

Hedge Funds Weigh In On Brookline Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. EMC Capital Management grew its position in shares of Brookline Bancorp by 13.0% in the third quarter. EMC Capital Management now owns 15,829 shares of the bank’s stock valued at $160,000 after purchasing an additional 1,819 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Brookline Bancorp in the 3rd quarter valued at $222,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Brookline Bancorp in the 3rd quarter worth $118,000. Assenagon Asset Management S.A. increased its stake in shares of 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 acquiring an additional 258,267 shares during the last quarter. Finally, Alta Wealth Advisors LLC purchased a new position in shares of Brookline Bancorp during the 3rd quarter worth $117,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a report on Friday, July 26th.

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.