The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) hit a new 52-week high and has $21.57 target or 58.00% above today’s $13.65 share price. The 9 months bullish chart indicates low risk for the $959.06M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $21.57 price target is reached, the company will be worth $556.25M 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 154,708 shares traded hands. Brookline Bancorp, Inc. (NASDAQ:BRKL) has risen 22.39% since April 7, 2016 and is uptrending. It has outperformed by 17.61% 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 has “Neutral” rating given by Piper Jaffray on Wednesday, September 16. The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) has “Buy” rating given on Thursday, October 22 by Compass Point. The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) has “Buy” rating given on Thursday, September 3 by Sandler O’Neill. The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) has “Hold” rating given on Tuesday, June 7 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 Q2 2016. Its down 0.64, from 1.53 in 2016Q1. The ratio worsened, 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.
Jacobs Levy Equity Mngmt last reported 66,172 shares in the company. Polaris Cap Mgmt Ltd Liability Com holds 0.89% or 924,191 shares in its portfolio. New York State Common Retirement Fund reported 234,574 shares or 0% of all its holdings. Ls Inv Advsr has 2,371 shares for 0% of their US portfolio. Matarin Mgmt Lc last reported 0% of its portfolio in the stock. Clearbridge Lc last reported 1,000 shares in the company. Balyasny Asset Management Limited Liability accumulated 0% or 18,972 shares. Glenmede Tru Na has 0% invested in the company for 39,763 shares. Moreover, Fiduciary Tru Comm has 0.03% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 82,488 shares. Commonwealth Equity Services, a Massachusetts-based fund reported 537,214 shares. Ameriprise Financial accumulated 0.01% or 1.05M shares. Retail Bank Of Montreal Can last reported 0% of its portfolio in the stock. Thomas White Int Ltd accumulated 0% or 610 shares. Metropolitan Life Com Ny accumulated 48,955 shares or 0% of the stock. Great West Life Assurance Can has invested 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL).
Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 2 insider sales for $243,560 net activity. McCurdy Michael W. sold $108,560 worth of stock. Another trade for 12,000 shares valued at $135,000 was sold by PECK CHARLES H.
More notable recent Brookline Bancorp, Inc. (NASDAQ:BRKL) news were published by: Prnewswire.com which released: “Brookline Bancorp, Inc. Names Darryl J. Fess President and CEO of Brookline Bank” on September 21, 2016, also Prnewswire.com with their article: “Brookline Bancorp, Inc. Announces Third Quarter 2016 Earnings Release Date and …” published on September 28, 2016, Marketwatch.com published: “Brookline Bancorp Inc.” on July 16, 2009. More interesting news about Brookline Bancorp, Inc. (NASDAQ:BRKL) were released by: Forbes.com and their article: “Ex-Dividend Reminder: Brookline Bancorp, Boston Private Financial and Wells Fargo” published on October 31, 2016 as well as Prnewswire.com‘s news article titled: “Brookline Bancorp, Inc. Announces Approval of Stock Repurchase Program” with publication date: February 04, 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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