Brookline Bancorp, Inc. (NASDAQ:BRKL) Sees Large Drop in Short Interest

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 732,200 shares, a decrease of 34.6% from the October 31st total of 1,120,000 shares. Based on an average daily volume of 591,400 shares, the days-to-cover ratio is presently 1.2 days.

Brookline Bancorp Stock Performance

Shares of Brookline Bancorp stock opened at $12.74 on Friday. 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 52 week low of $8.01 and a 52 week high of $13.15. The firm’s 50 day moving average is $11.08 and its two-hundred day moving average is $9.92. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.35 and a beta of 0.76.

Brookline Bancorp (NASDAQ:BRKL) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. The firm had revenue of $165.91 million for the quarter, compared to the consensus estimate of $88.67 million. During the same period last year, the firm posted $0.26 EPS. Research analysts forecast that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Announces Dividend

The company also recently announced 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. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s dividend payout ratio (DPR) is currently 65.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in Brookline Bancorp by 67.2% in the third quarter. Assenagon Asset Management S.A. now owns 642,651 shares of the bank’s stock valued at $6,484,000 after buying an additional 258,267 shares during the last quarter. American Century Companies Inc. raised its position in Brookline Bancorp by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 1,431,291 shares of the bank’s stock valued at $11,951,000 after purchasing an additional 249,113 shares during the last quarter. AQR Capital Management LLC boosted its stake in Brookline Bancorp by 47.5% during the 2nd quarter. AQR Capital Management LLC now owns 491,756 shares of the bank’s stock worth $4,106,000 after purchasing an additional 158,329 shares during the period. Inspire Advisors LLC purchased a new position in Brookline Bancorp during the 2nd quarter worth $1,298,000. Finally, Bank of Montreal Can acquired a new position in Brookline Bancorp in the second quarter valued at $1,042,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

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.