The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) hit a new 52-week high and has $17.55 target or 41.00% above today’s $12.45 share price. The 8 months bullish chart indicates low risk for the $881.51 million company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $17.55 price target is reached, the company will be worth $361.42 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 72,194 shares traded hands. Brookline Bancorp, Inc. (NASDAQ:BRKL) has risen 12.95% since March 16, 2016 and is uptrending. It has outperformed by 7.40% the S&P500.
Brookline Bancorp, Inc. (NASDAQ:BRKL) Ratings Coverage
Out of 3 analysts covering Brookline Bancorp (NASDAQ:BRKL), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Brookline Bancorp has been the topic of 4 analyst reports since September 3, 2015 according to StockzIntelligence Inc. The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) earned “Buy” rating by Compass Point on Thursday, October 22. The firm has “Neutral” rating given on Wednesday, September 16 by Piper Jaffray. The rating was downgraded by Sandler O’Neill to “Hold” on Tuesday, June 7. The firm earned “Buy” rating on Thursday, September 3 by Sandler O’Neill.
According to Zacks Investment Research, “Brookline Bancorp, Inc. is a holding company for Brookline Savings Bank.”
Insitutional Activity: The institutional sentiment decreased to 0.89 in 2016 Q2. Its down 0.64, from 1.53 in 2016Q1. The ratio dropped, as 14 funds sold all Brookline Bancorp, Inc. shares owned while 51 reduced positions. 10 funds bought stakes while 48 increased positions. They now own 49.47 million shares or 6.05% less from 52.65 million shares in 2016Q1.
Contravisory Investment Management holds 14,617 shares or 0.05% of its portfolio. The Illinois-based Thomas White International has invested 0% in Brookline Bancorp, Inc. (NASDAQ:BRKL). National Bank & Trust Of Montreal Can reported 150,411 shares or 0% of all its holdings. Jennison Lc holds 0% or 50,460 shares in its portfolio. Rhumbline Advisers holds 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 145,560 shares. Northern Tru Corporation accumulated 1.17 million shares or 0% of the stock. Private Management Ltd Liability Corporation reported 38,555 shares or 0.06% of all its holdings. Blackrock Institutional Tru Na has 2.07 million shares for 0% of their US portfolio. Loring Wolcott Coolidge Fiduciary Advsr Limited Liability Partnership Ma accumulated 0.03% or 112,212 shares. Vanguard Grp has 5.78 million shares for 0% of their US portfolio. Swiss Bancorp last reported 0% of its portfolio in the stock. Moreover, Teachers Retirement Of The State Of Kentucky has 0% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 19,300 shares. Strs Ohio accumulated 6,800 shares or 0% of the stock. Bnp Paribas Arbitrage Sa last reported 0% of its portfolio in the stock. California State Teachers Retirement Systems accumulated 145,185 shares or 0% of the stock.
Insider Transactions: Since April 29, 2016, the stock had 1 buying transaction, and 3 sales for $243,267 net activity. On Wednesday, May 4 the insider Fitzgerald Margaret Boles bought $16,710. 9,200 shares with value of $108,560 were sold by McCurdy Michael W. on Friday, August 26. The insider PECK CHARLES H sold 12,000 shares worth $135,000. CHAPIN DAVID C had sold 1,458 shares worth $16,417 on Friday, April 29.
More notable recent Brookline Bancorp, Inc. (NASDAQ:BRKL) news were published by: Prnewswire.com which released: “Brookline Bancorp, Inc. Announces Third Quarter 2016 Earnings Release Date and …” on September 28, 2016, also Marketwatch.com with their article: “Brookline Bancorp Inc.” published on July 16, 2009, Prnewswire.com published: “Brookline Bancorp, Inc. Names Darryl J. Fess President and CEO of Brookline Bank” on September 21, 2016. More interesting news about Brookline Bancorp, Inc. (NASDAQ:BRKL) were released by: Prnewswire.com and their article: “Brookline Bancorp, Inc. Announces Approval of Stock Repurchase Program” published on February 04, 2016 as well as Prnewswire.com‘s news article titled: “Brookline Bancorp, Inc. Announces 2016 Annual Meeting Information” with publication date: January 28, 2016.
BRKL Company Profile
Brookline Bancorp, Inc., incorporated on April 11, 2002, operates as a multi-bank holding firm for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. (BSC). As a commercially-focused financial institution with approximately 50 banking offices in greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offers commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services in central New England. The Company’s activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in Massachusetts and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services. The Firm also provides specialty equipment financing through its subsidiaries Eastern Funding LLC and Macrolease Corporation.
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