Stock Buzzer: Is Buying 52-Week Stock Like Brookline Bancorp, Inc. a Winning Strategy?

Stock Buzzer: Is Buying 52 Week Stock Like Brookline Bancorp, Inc. a Winning Strategy?

The stock of Brookline Bancorp, Inc. (NASDAQ:BRKL) hit a new 52-week high and has $25.33 target or 61.00% above today’s $15.73 share price. The 7 months bullish chart indicates low risk for the $1.19 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $25.33 price target is reached, the company will be worth $725.90M 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 53,753 shares traded hands. Brookline Bancorp, Inc. (NASDAQ:BRKL) has risen 41.00% since April 12, 2016 and is uptrending. It has outperformed by 36.02% 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. Sandler O’Neill downgraded the stock to “Hold” rating in Tuesday, June 7 report. The company was upgraded on Thursday, September 3 by Sandler O’Neill. The firm has “Neutral” rating by Piper Jaffray given on Wednesday, September 16. The stock has “Buy” rating given by Compass Point on Thursday, October 22.

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 dived, 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.
Moreover, Winslow Evans And Crocker has 0% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 1,094 shares. Schwab Charles Management Incorporated owns 255,263 shares or 0% of their US portfolio. Profund Advsr has 0.01% invested in the company for 14,962 shares. State Common Retirement Fund holds 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 234,574 shares. Commercial Bank Of Montreal Can last reported 0% of its portfolio in the stock. The Massachusetts-based Adage Cap Prtnrs Gru Limited Liability Company has invested 0% in Brookline Bancorp, Inc. (NASDAQ:BRKL). The New York-based Citigroup has invested 0% in Brookline Bancorp, Inc. (NASDAQ:BRKL). Ameriprise Fincl has 1.05M shares for 0.01% of their US portfolio. Federated Pa reported 449 shares or 0% of all its holdings. Ipswich Inv Mgmt holds 0.21% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 39,300 shares. Blackrock Advsr Ltd Liability Co has invested 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). Los Angeles Cap Management Equity Rech has invested 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). Aqr Limited Com accumulated 0% or 171,010 shares. Louisiana State Employees Retirement Sys accumulated 31,200 shares or 0.02% of the stock. Dimensional Fund Limited Partnership reported 5.76M shares or 0.04% of all its holdings.

Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 1 insider sale for $108,560 net activity. PECK CHARLES H sold 12,000 shares worth $135,000. $108,560 worth of shares were sold by McCurdy Michael W. on Friday, August 26.

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: 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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