Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,670,000 shares, a growth of 20.1% from the May 31st total of 1,390,000 shares. Based on an average trading volume of 405,800 shares, the short-interest ratio is presently 4.1 days.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRKL. Nisa Investment Advisors LLC lifted its position in shares of Brookline Bancorp by 2,268.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after buying an additional 2,200 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Brookline Bancorp during the fourth quarter valued at about $34,000. EntryPoint Capital LLC purchased a new stake in shares of Brookline Bancorp during the first quarter valued at about $47,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Brookline Bancorp during the fourth quarter valued at about $134,000. Finally, Crestwood Advisors Group LLC purchased a new stake in shares of Brookline Bancorp during the third quarter valued at about $140,000. 78.91% of the stock is currently owned by institutional investors.
Brookline Bancorp Trading Down 1.2 %
Shares of NASDAQ BRKL traded down $0.10 during mid-day trading on Friday, reaching $8.35. The company had a trading volume of 2,643,276 shares, compared to its average volume of 447,616. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. Brookline Bancorp has a 52 week low of $7.93 and a 52 week high of $11.52. The business’s 50-day moving average is $8.61 and its 200-day moving average is $9.57. The stock has a market cap of $742.23 million, a price-to-earnings ratio of 8.98 and a beta of 0.81.
Brookline Bancorp (NASDAQ:BRKL – Get Free Report) last issued its earnings results on Wednesday, April 24th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). Brookline Bancorp had a return on equity of 7.09% and a net margin of 13.13%. The business had revenue of $87.87 million for the quarter, compared to the consensus estimate of $91.77 million. Equities analysts expect that Brookline Bancorp will post 0.72 earnings per share for the current year.
Brookline Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend was Thursday, May 9th. Brookline Bancorp’s payout ratio is 58.07%.
Analysts Set New Price Targets
BRKL has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods cut their price target on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.08.
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.