Brookline Bancorp, Inc. (NASDAQ:BRKL) Short Interest Update

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

Brookline Bancorp Stock Up 3.1 %

BRKL opened at $8.56 on Wednesday. The business has a 50 day moving average price of $9.48 and a 200 day moving average price of $9.78. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $767.40 million, a P/E ratio of 8.92 and a beta of 0.75.

Brookline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 6.31%. The ex-dividend date is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio is currently 58.07%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRKL. SG Americas Securities LLC bought a new stake in shares of Brookline Bancorp during the third quarter valued at approximately $131,000. Cambridge Investment Research Advisors Inc. boosted its stake in Brookline Bancorp by 46.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,915 shares of the bank’s stock valued at $136,000 after buying an additional 4,728 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brookline Bancorp by 70.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,472 shares of the bank’s stock valued at $150,000 after buying an additional 6,825 shares in the last quarter. Advisor Partners II LLC acquired a new stake in Brookline Bancorp in the 3rd quarter valued at $104,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Brookline Bancorp by 7.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock valued at $322,000 after buying an additional 2,373 shares in the last quarter. 78.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BRKL. Piper Sandler reiterated an “overweight” rating and set a $12.00 price target on shares of Brookline Bancorp in a report on Wednesday, March 27th. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reduced their target price on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookline Bancorp has a consensus rating of “Moderate Buy” and an average target price 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.