Short Interest in Brookline Bancorp, Inc. (NASDAQ:BRKL) Declines By 10.4%

Brookline Bancorp, Inc. (NASDAQ:BRKL) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,120,000 shares, a decrease of 10.4% from the October 15th total of 1,250,000 shares. Based on an average trading volume of 597,600 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Brookline Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,089,187 shares of the bank’s stock valued at $21,084,000 after purchasing an additional 26,714 shares in the last quarter. Barclays PLC grew its stake in shares of Brookline Bancorp by 99.8% in the third quarter. Barclays PLC now owns 212,904 shares of the bank’s stock worth $2,149,000 after acquiring an additional 106,345 shares in the last quarter. XTX Topco Ltd increased its position in shares of Brookline Bancorp by 88.5% during the third quarter. XTX Topco Ltd now owns 25,930 shares of the bank’s stock worth $262,000 after acquiring an additional 12,173 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Brookline Bancorp in the third quarter valued at $123,000. Finally, Jane Street Group LLC boosted its holdings in Brookline Bancorp by 12.2% in the third quarter. Jane Street Group LLC now owns 196,979 shares of the bank’s stock valued at $1,988,000 after purchasing an additional 21,394 shares during the period. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Trading Down 0.8 %

NASDAQ:BRKL traded down $0.10 on Friday, hitting $12.41. The stock had a trading volume of 537,929 shares, compared to its average volume of 660,023. The company has a fifty day moving average price of $10.68 and a two-hundred day moving average price of $9.71. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 14.95 and a beta of 0.76. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. The company had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. During the same period in the prior year, the business posted $0.26 earnings per share. Equities research analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is 65.06%.

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.