Brookline Bancorp, Inc. (NASDAQ:BRKL) Sees Significant Decline in Short Interest

Brookline Bancorp, Inc. (NASDAQ:BRKLGet Rating) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,350,000 shares, a decline of 22.9% from the March 15th total of 1,750,000 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 384,500 shares, the days-to-cover ratio is currently 3.5 days.

Shares of BRKL opened at $14.77 on Monday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 9.98 and a beta of 0.66. Brookline Bancorp has a 52 week low of $13.23 and a 52 week high of $17.74. The business has a 50-day moving average of $16.37. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Brookline Bancorp (NASDAQ:BRKLGet Rating) last issued its quarterly earnings data on Wednesday, January 26th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. Brookline Bancorp had a net margin of 34.10% and a return on equity of 11.87%. The business had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $76.06 million. During the same quarter last year, the company earned $0.34 EPS. Equities research analysts expect that Brookline Bancorp will post 1.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $0.50 dividend on an annualized basis and a yield of 3.39%. Brookline Bancorp’s payout ratio is 33.78%.

In other Brookline Bancorp news, Director David C. Chapin sold 10,000 shares of the stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $16.94, for a total transaction of $169,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of Brookline Bancorp by 693.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,152,823 shares of the bank’s stock worth $67,234,000 after acquiring an additional 3,629,143 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Brookline Bancorp by 0.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,042,312 shares of the bank’s stock worth $65,445,000 after purchasing an additional 20,062 shares during the period. Goldman Sachs Group Inc. boosted its position in Brookline Bancorp by 4.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,727,380 shares of the bank’s stock worth $44,156,000 after purchasing an additional 109,124 shares in the last quarter. FJ Capital Management LLC grew its holdings in Brookline Bancorp by 45.2% in the third quarter. FJ Capital Management LLC now owns 2,330,000 shares of the bank’s stock valued at $35,561,000 after purchasing an additional 725,000 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Brookline Bancorp by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,332,700 shares of the bank’s stock valued at $20,337,000 after buying an additional 4,535 shares in the last quarter. Institutional investors and hedge funds own 80.60% of the company’s stock.

Several research firms have weighed in on BRKL. StockNews.com initiated coverage on shares of Brookline Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th.

Brookline Bancorp Company Profile (Get Rating)

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.

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