Understanding the Risks of Investing in Brookline Bancorp Inc. (BRKL)


In a filing, Brookline Bancorp Inc. revealed its CEO PCSB Bank Goldrick Michael P acquired Company’s shares for reported $43550.0 on Jun 06. In the deal valued at $8.71 per share,5,000 shares were bought. As a result of this transaction, Goldrick Michael P now holds 14,152 shares worth roughly $ 0.14 million.

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Then, Fess Darryl J. bought 5,000 shares, generating $42,150 in total proceeds. Upon buying the shares at $8.43, the CEO, Brookline Bank now owns 65,500 shares.

Before that, Carlson Carl M bought 2,000 shares. Brookline Bancorp Inc. shares valued at $16,180 were divested by the Co-President & CFO at a price of $8.09 per share. As a result of the transaction, Carlson Carl M now holds 133,197 shares, worth roughly $1.31 million.

Raymond James initiated its Brookline Bancorp Inc. [BRKL] rating to a Mkt perform in a research note published on Friday.

Price Performance Review of BRKL

On Friday, Brookline Bancorp Inc. [NASDAQ:BRKL] saw its stock jump 2.93% to $9.85. On the same session, the stock had its day’s lowest price of $9.63, but rose to a high of $9.88. Over the last five days, the stock has gained 4.23%. Brookline Bancorp Inc. shares have fallen nearly -30.39% since the year began. Nevertheless, the stocks have fallen -21.01% over the past one year. While a 52-week high of $15.50 was reached on 01/03/23, a 52-week low of $7.00 was recorded on 05/04/23. SMA at 50 days reached $9.78, while 200 days put it at $11.13. A total of 0.34 million shares were traded, compared to the trading of 0.32 million shares in the previous session.

Levels Of Support And Resistance For BRKL Stock

The 24-hour chart illustrates a support level at 9.69, which if violated will result in even more drops to 9.54. On the upside, there is a resistance level at 9.94. A further resistance level may holdings at 10.04. The Relative Strength Index (RSI) on the 14-day chart is 50.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.13%. Stochastics %K at 36.14% indicates the stock is a holding.

How much short interest is there in Brookline Bancorp Inc.?

A steep rise in short interest was recorded in Brookline Bancorp Inc. stocks on Aug 14, 2023, dropping by 50000.0 shares to a total of 1.58 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.63 million shares. There was a decline of -3.16%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.39% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.79.

Brookline Bancorp Inc. [BRKL] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 12,200,498 shares, or roughly 13.72% of the outstanding BRKL shares. In other words, the investor’s shares have fallen by -117,654 from its previous 13-F filing of 12318152.0. Additionally, The Vanguard Group, Inc. decreased -1.57% of its stake after which the total value it holdings stand at $105,423,829, while Fuller & Thaler Asset Management, added 15.80% of its stake to hold $56.27 million in the firm. Over the last quarter, Dimensional Fund Advisors LP sold -606,653 shares of Brookline Bancorp Inc., while SSgA Funds Management, Inc. sold 91,660 shares. At present, Massachusetts Financial Services is holding 3,445,303 shares valued at $36.8 million. Geode Capital Management LLC owned 1,788,603 shares of the company at the time of its most recent 13F filing, worth $19.1 million.

According to FactSet, Brookline Bancorp Inc.’s share price will average $12.17 in the next year, based on opinions of analysts polled by the firm. This is up nearly 25.39 percent from its previous closing price of $9.57. Analysts expect Brookline Bancorp Inc. stock to reach the higher price of $13.00, while the lowest price estimate is $11.50. However, 4 analysts have rated BRKL stock as an Overweight in their predictions for 2023.


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