Short Interest in Brookline Bancorp, Inc. (NASDAQ:BRKL) Declines By 5.4%

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,220,000 shares, a decrease of 5.4% from the March 15th total of 1,290,000 shares. Based on an average trading volume of 459,600 shares, the days-to-cover ratio is currently 2.7 days.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $9.01 on Wednesday. The firm’s 50 day moving average is $9.65 and its two-hundred day moving average is $9.78. Brookline Bancorp has a 52 week low of $7.00 and a 52 week high of $11.52. The firm has a market capitalization of $807.75 million, a P/E ratio of 10.48 and a beta of 0.75. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Brookline Bancorp had a net margin of 12.31% and a return on equity of 7.87%. The company had revenue of $160.35 million for the quarter, compared to analyst estimates of $89.38 million. During the same quarter last year, the business earned $0.39 earnings per share. Analysts anticipate that Brookline Bancorp will post 0.97 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.135 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.54 annualized dividend and a dividend yield of 5.99%. Brookline Bancorp’s payout ratio is currently 62.79%.

Institutional Investors Weigh In On Brookline Bancorp

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Brookline Bancorp by 1,699.3% in the third quarter. Assenagon Asset Management S.A. now owns 249,217 shares of the bank’s stock valued at $2,270,000 after purchasing an additional 235,366 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Brookline Bancorp by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock valued at $9,379,000 after acquiring an additional 63,039 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Brookline Bancorp in the third quarter valued at approximately $486,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Brookline Bancorp by 7.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock valued at $322,000 after acquiring an additional 2,373 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Brookline Bancorp by 5.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 122,644 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 6,648 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.

Analyst Ratings Changes

BRKL has been the topic of several research reports. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of Brookline Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective on shares of Brookline Bancorp in a research note on Wednesday, March 27th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Brookline Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

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.