Is Buying Brookline Bancorp, Inc. (BRKL) Here a Winning Strategy? The Stock Formed Bullish Wedge Up Chart Pattern

February 15, 2018 - By Winifred Garcia

Investors sentiment decreased to 1.3 in Q3 2017. Its down 0.09, from 1.39 in 2017Q2. It turned negative, as 12 investors sold Brookline Bancorp, Inc. shares while 48 reduced holdings. 23 funds opened positions while 55 raised stakes. 57.96 million shares or 0.37% less from 58.17 million shares in 2017Q2 were reported.
First Trust Advisors Ltd Partnership invested in 130,842 shares. Arizona State Retirement stated it has 0.01% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). Northern Tru Corporation invested in 0.01% or 1.45 million shares. Royal Bancorp Of Canada holds 0% or 101,752 shares in its portfolio. Moreover, Price T Rowe Assoc Incorporated Md has 0% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL). Massachusetts-based Geode Cap Management Lc has invested 0% in Brookline Bancorp, Inc. (NASDAQ:BRKL). Public Employees Retirement Association Of Colorado owns 35,731 shares. Natixis has invested 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). California State Teachers Retirement Sys reported 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). Comerica National Bank accumulated 148,299 shares or 0.02% of the stock. Citadel reported 0% in Brookline Bancorp, Inc. (NASDAQ:BRKL). 206,193 were accumulated by Millennium Mngmt Ltd Liability Com. Virtu Lc reported 31,409 shares. Baldwin Brothers Ma holds 0.06% or 25,140 shares in its portfolio. Deprince Race And Zollo Incorporated, a Florida-based fund reported 776,320 shares.

Since February 5, 2018, it had 0 buys, and 2 sales for $290,750 activity. Cosman James M sold 12,500 shares worth $209,500.

The stock of Brookline Bancorp, Inc. (BRKL) formed an up wedge with $17.82 target or 9.00 % above today’s $16.35 share price. The 6 months wedge indicates low risk for the $1.25B company. If the $17.82 price target is reached, the company will be worth $112.77 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.06% or $0.01 during the last trading session, reaching $16.35. About 114,340 shares traded. Brookline Bancorp, Inc. (NASDAQ:BRKL) has risen 26.02% since February 15, 2017 and is uptrending. It has outperformed by 9.32% the S&P500.

Brookline Bancorp, Inc. (NASDAQ:BRKL) Ratings Coverage

Among 4 analysts covering Brookline Bancorp (NASDAQ:BRKL), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Brookline Bancorp had 16 analyst reports since September 3, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained Brookline Bancorp, Inc. (NASDAQ:BRKL) on Tuesday, August 8 with “Hold” rating. Piper Jaffray maintained it with “Hold” rating and $15.0 target in Thursday, September 21 report. The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) earned “Buy” rating by Sandler O’Neill on Thursday, September 3. The rating was maintained by Keefe Bruyette & Woods on Thursday, June 1 with “Hold”. Sandler O’Neill upgraded it to “Buy” rating and $16.0 target in Monday, August 21 report. Keefe Bruyette & Woods maintained it with “Hold” rating and $18.0 target in Friday, February 2 report. Keefe Bruyette & Woods maintained it with “Hold” rating and $16.0 target in Thursday, October 19 report. The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) has “Neutral” rating given on Friday, November 18 by Compass Point. The stock has “Hold” rating by Sandler O’Neill on Thursday, October 19. Piper Jaffray maintained it with “Hold” rating and $16.0 target in Monday, October 23 report.

More notable recent Brookline Bancorp, Inc. (NASDAQ:BRKL) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Ameriprise Financial, Brookline Bancorp and GEO Group” on February 13, 2018, also Nasdaq.com with their article: “Brookline Bancorp Inc. Reveals Decline In Q4 Earnings” published on January 31, 2018, Globenewswire.com published: “Brookline Bancorp, Inc. Announces Third Quarter 2017 Earnings Release Date and …” on September 27, 2017. More interesting news about Brookline Bancorp, Inc. (NASDAQ:BRKL) were released by: Seekingalpha.com and their article: “Brookline Bancorp’s (BRKL) CEO Paul Perrault on Q4 2017 Results – Earnings …” published on February 01, 2018 as well as Seekingalpha.com‘s news article titled: “Brookline Bancorp, An Investment Of The Future” with publication date: November 21, 2017.

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