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

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) was the target of a large 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 trading volume of 591,400 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Brookline Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in Brookline Bancorp by 174.9% during the 3rd quarter. FMR LLC now owns 5,154 shares of the bank's stock valued at $52,000 after purchasing an additional 3,279 shares in the last quarter. CWM LLC boosted its holdings in shares of Brookline Bancorp by 1,806.5% in the 2nd quarter. CWM LLC now owns 8,827 shares of the bank's stock worth $74,000 after buying an additional 8,364 shares during the last quarter. Creative Planning purchased a new position in shares of Brookline Bancorp in the 3rd quarter worth about $103,000. Townsquare Capital LLC bought a new stake in Brookline Bancorp in the 3rd quarter valued at about $111,000. Finally, Alta Wealth Advisors LLC bought a new stake in Brookline Bancorp in the 3rd quarter valued at about $117,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.

Brookline Bancorp Stock Performance

NASDAQ:BRKL traded down $0.15 during midday trading on Friday, reaching $12.59. The stock had a trading volume of 349,886 shares, compared to its average volume of 516,033. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. The firm's fifty day simple moving average is $11.12 and its 200-day simple moving average is $9.94. The stock has a market capitalization of $1.12 billion, a P/E ratio of 15.12 and a beta of 0.76.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $165.91 million during the quarter, compared to analysts' expectations of $88.67 million. Brookline Bancorp had a net margin of 11.40% and a return on equity of 6.20%. During the same quarter last year, the company posted $0.26 EPS. On average, equities research analysts forecast that Brookline Bancorp will post 0.82 EPS for the current fiscal year.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.54 dividend on an annualized basis and a yield of 4.29%. Brookline Bancorp's payout ratio is 65.06%.

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.