The Brookline Bancorp, Inc. (NASDAQ:BRKL) bulls won the day, but the reality is that the 0.15 points or 0.85 percent advance gave very little definitive technical indication of where the stock could be headed next. On 20 September, the shares traded at $17.7 with a light trade volume of 293.062 thousand shares. After opening the session at $17.6, the shares went as high as $17.85 and as low as $17.55, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $1.4 billion and now has 79.27 million shares outstanding. Brookline Bancorp, Inc. (BRKL) stock has lost -2.75 percent of market value in 21 trading days.
BRKL stock has a trailing 3-year beta of 0.77, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was $0.9 a share in the trailing twelve months. The stock’s value has surged 12.74 percent year to date (YTD) against a rise of 20.82 percent in 12 month’s time. The company’s shares still trade -8.53 percent away from its 1-year high of $19.35 and 22.49 percent up from 52-week low of $14.45. The average consensus rating on the company is 2.4, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a sell.
Brookline Bancorp, Inc. (BRKL) will probably climb 9.04 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $21-month high price target. This represents a whopping 18.64 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $20, which represents a return potential of 12.99 percent when compared to the closing price of the stock of $17.7 on Thursday, September 20. The lowest price target for the stock is $17 — slightly more than -3.95 percent from BRKL’s current share price.
History has shown that shares in Brookline Bancorp, Inc. have gone up on 16 different earnings reaction days and are predicted to add 0.02 percent when the company reports upcoming earnings. Investors will get their next glimpse of BRKL’s Q3 earnings on October 24. Analysts are forecasting revenue to climb 13.6 percent to $64.59M in the fiscal third quarter, while earnings are seen soaring by nearly 35 percent to $0.27 per share. It earned $0.26 per share, in line with the $0.26, adjusted, expected by Thomson Reuters consensus estimate. Revenue was $62.72M, worse than the $64.11M analysts expected. Earnings are estimated to increase by 7 percent this year, 10.7 percent next year and continue to increase by 6 percent annually for the next 5 years.
Let’s take a look at some insider activity at Brookline Bancorp, Inc. (NASDAQ:BRKL) and see the pattern. The earliest insider trade took place on 09/11/2018. Mccurdy Michael W. parted with a total of 3 thousand shares of company at average share price of $17.9. The total for the sales was set at $53.7 thousand. After this transaction, the General Counsel & CRO account balance stood at 21.49 thousand shares. The stock lost -1.12 percent since that insider sale. On 08/28/2018, David C. Chapin, Director, sold 5 thousand shares at a price per share of $18.01. This removed 90.05 thousand shares from the insider’s fortune and the stock saw a -1.72 percent retreat in value since the news became public. This transaction left 114.06 thousand shares in the Director account.
On 08/16/2018, COO James M. Cosman performed a sale transaction worth $49.53 thousand. This sale at $18.01 each has eliminated 2.75 thousand shares from the insider’s portfolio position. Meanwhile, shares have recorded -1.72 percent decrease since the transaction was reported. The insider now is left with 32.19 thousand shares remaining in the account. Robert M. Rose, who performs the Chief Credit Officer job, sold 4.5 thousand shares for $82.58 thousand. The disposal occurred on 08/02/2018 was priced at $18.35 per share. The share price plunged -3.54 percent since the reporting date. Rose M Robert now left with a stake of 52.46 thousand BRKL stock worth $928.6 thousand after the insider selling.
The stock is currently hovering around the first support level of $17.55. Below this, the next support is placed in the zone of $17.4. Till the time, the BRKL stock trades above this level, bulls have nothing to fear. On momentum oscillators front, “RSI” has touched 41.8 on daily chart, which may remain a cause for concern. If the price breaks below $17.4 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $17.85 mark may result into a pull-back move towards $18 level.
Shares of Brookline Bancorp, Inc. (BRKL) are trading at a P/E ratio of 19.44 times earnings reported for the past 12 months. The industry BRKL operates in has an average P/E of 17.71. Its P/E ratio went as low as 16.23X and as high as 22.06 over the 5-year span.Further, it is sporting a 4.92 on the Price-to-Sales ratio. Compare this with the industry average P/S of 6.14.
Brookline Bancorp, Inc. operates as a multi-bank holding company 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. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.