Brookline Bancorp, Inc. (BRKL) Director Charles H. Peck Sells 12,000 Shares
Brookline Bancorp, Inc. (NASDAQ:BRKL) Director Charles H. Peck sold 12,000 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $16.09, for a total transaction of $193,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Brookline Bancorp stock traded up $0.37 on Friday, reaching $16.06. 394,046 shares of the stock were exchanged, compared to its average volume of 286,219. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. Brookline Bancorp, Inc. has a twelve month low of $12.84 and a twelve month high of $19.35. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 15.01 and a beta of 0.91.
Brookline Bancorp announced that its board has approved a share buyback program on Thursday, December 6th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the bank to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
Institutional investors have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Brookline Bancorp by 31.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,874 shares of the bank’s stock worth $40,000 after purchasing an additional 688 shares during the period. Clean Yield Group acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth about $51,000. Quantamental Technologies LLC acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth about $51,000. Acadian Asset Management LLC acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth about $58,000. Finally, Magnus Financial Group LLC acquired a new stake in shares of Brookline Bancorp during the fourth quarter worth about $150,000. 78.15% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on BRKL. Sandler O’Neill lowered shares of Brookline Bancorp from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a report on Wednesday. BidaskClub lowered Brookline Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Zacks Investment Research upgraded Brookline Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, February 6th. Finally, Compass Point lowered Brookline Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.50.
WARNING: “Brookline Bancorp, Inc. (BRKL) Director Charles H. Peck Sells 12,000 Shares” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.watchlistnews.com/brookline-bancorp-inc-brkl-director-charles-h-peck-sells-12000-shares/2826293.html.
Brookline Bancorp Company Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
Featured Article: Risk Tolerance and Your Investment Decisions
Receive News & Ratings for Brookline Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookline Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.