Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Down 17.1% in August

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,310,000 shares, a decrease of 17.1% from the August 15th total of 1,580,000 shares. Based on an average trading volume of 494,600 shares, the days-to-cover ratio is currently 2.6 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BRKL. Seaport Res Ptn reiterated a “buy” rating on shares of Brookline Bancorp in a research report on Tuesday, September 12th. StockNews.com started coverage on Brookline Bancorp in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.83.

Institutional Trading of Brookline Bancorp

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in Brookline Bancorp by 40.9% in the second quarter. Osaic Holdings Inc. now owns 7,817 shares of the bank’s stock valued at $68,000 after purchasing an additional 2,271 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Brookline Bancorp by 1.2% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 117,621 shares of the bank’s stock valued at $1,028,000 after buying an additional 1,346 shares in the last quarter. Legato Capital Management LLC raised its stake in Brookline Bancorp by 39.4% during the 2nd quarter. Legato Capital Management LLC now owns 67,635 shares of the bank’s stock worth $591,000 after buying an additional 19,117 shares during the period. State of Tennessee Treasury Department lifted its holdings in Brookline Bancorp by 67.6% during the second quarter. State of Tennessee Treasury Department now owns 100,627 shares of the bank’s stock worth $879,000 after acquiring an additional 40,586 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Brookline Bancorp in the second quarter valued at about $168,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Trading Down 1.3 %

Shares of BRKL traded down $0.12 on Tuesday, reaching $8.85. 126,722 shares of the company’s stock were exchanged, compared to its average volume of 634,465. Brookline Bancorp has a 12 month low of $7.00 and a 12 month high of $15.50. The stock has a market capitalization of $784.69 million, a P/E ratio of 7.89 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average price of $9.88 and a two-hundred day moving average price of $9.67.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Brookline Bancorp had a net margin of 17.70% and a return on equity of 10.06%. The company had revenue of $91.50 million during the quarter, compared to analyst estimates of $90.50 million. Research analysts anticipate that Brookline Bancorp will post 1.02 earnings per share for the current year.

Brookline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.54 annualized dividend and a dividend yield of 6.10%. Brookline Bancorp’s payout ratio is currently 48.21%.

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.