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

Brookline Bancorp, Inc. (NASDAQ:BRKL) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,410,000 shares, a growth of 15.6% from the March 31st total of 1,220,000 shares. Based on an average trading volume of 449,800 shares, the short-interest ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BRKL shares. Keefe, Bruyette & Woods cut their price objective on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a research report on Friday. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Brookline Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $11.08.

Institutional Trading of Brookline Bancorp

Large investors have recently bought and sold shares of the business. Jennison Associates LLC boosted its stake in Brookline Bancorp by 24.0% in the fourth quarter. Jennison Associates LLC now owns 4,493,648 shares of the bank’s stock valued at $49,026,000 after buying an additional 870,327 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Brookline Bancorp by 1,699.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,217 shares of the bank’s stock valued at $2,270,000 after purchasing an additional 235,366 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Brookline Bancorp by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,559 shares of the bank’s stock valued at $9,379,000 after purchasing an additional 63,039 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Brookline Bancorp during the third quarter valued at about $486,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Brookline Bancorp by 7.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock valued at $322,000 after purchasing an additional 2,373 shares in the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.

Brookline Bancorp Price Performance

NASDAQ:BRKL traded up $0.01 during trading hours on Monday, hitting $8.35. The company’s stock had a trading volume of 502,399 shares, compared to its average volume of 451,072. The stock has a fifty day simple moving average of $9.48 and a 200-day simple moving average of $9.78. The company has a market capitalization of $748.54 million, a P/E ratio of 8.98 and a beta of 0.75. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.10 and a quick ratio of 1.10. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52.

Brookline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 58.06%.

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.