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

Brookline Bancorp, Inc. (NASDAQ:BRKLGet Rating) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 959,300 shares, a decline of 28.9% from the March 31st total of 1,350,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average trading volume of 387,600 shares, the days-to-cover ratio is presently 2.5 days.

A number of brokerages have recently commented on BRKL. StockNews.com began coverage on Brookline Bancorp in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut Brookline Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th.

In other Brookline Bancorp news, Director David C. Chapin sold 10,000 shares of Brookline Bancorp stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $16.94, for a total value of $169,400.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Brookline Bancorp by 693.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,152,823 shares of the bank’s stock valued at $67,234,000 after acquiring an additional 3,629,143 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Brookline Bancorp by 0.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,042,312 shares of the bank’s stock valued at $65,445,000 after acquiring an additional 20,062 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Brookline Bancorp by 4.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,727,380 shares of the bank’s stock valued at $44,156,000 after acquiring an additional 109,124 shares during the period. FJ Capital Management LLC lifted its holdings in shares of Brookline Bancorp by 45.2% in the 3rd quarter. FJ Capital Management LLC now owns 2,330,000 shares of the bank’s stock worth $35,561,000 after buying an additional 725,000 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Brookline Bancorp by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,332,700 shares of the bank’s stock worth $20,337,000 after buying an additional 4,535 shares during the period. Institutional investors own 81.72% of the company’s stock.

Shares of Brookline Bancorp stock traded up $0.13 on Monday, reaching $14.59. The company had a trading volume of 5,165 shares, compared to its average volume of 360,190. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.90 and a beta of 0.66. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $15.87. Brookline Bancorp has a 1 year low of $13.23 and a 1 year high of $17.74.

Brookline Bancorp (NASDAQ:BRKLGet Rating) last announced its earnings results on Wednesday, April 27th. The bank reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Brookline Bancorp had a return on equity of 11.58% and a net margin of 33.85%. During the same period in the previous year, the business posted $0.34 earnings per share. Equities analysts expect that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, May 12th. This represents a $0.52 dividend on an annualized basis and a yield of 3.56%. This is a boost from Brookline Bancorp’s previous quarterly dividend of $0.13. Brookline Bancorp’s payout ratio is presently 34.25%.

About Brookline Bancorp (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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